New GST Slabs To Take Effect From Today: Essentials, Cars, And Appliances Get Cheaper; Sin Goods Costlier

Finance Minister Nirmala Sitharaman and the GST Council announced the overhaul earlier this month, consolidating four slabs into two — 5 per cent for essentials and 18 per cent for most goods and services — along with a 40 per cent sin tax on products like tobacco, alcohol, betting, and online gaming.