New Delhi: The GST Council meeting on Wednesday approved a dual tax structure of 5% and 18% and eliminated the 12% and 28% slabs. The changes will come into effect from September 22, the first day of Navratri.

Once the meeting was over, Finance Minister Nirmala Sitharaman addressed a press conference in which she said that reforms have been done keeping the common people in mind. She said, “This decision has focused on the complete reduction of GST for common and middle-class items.”

The automobile sector of the country has much to rejoice in following the announcement of GST rate cuts. Notably, the GST on small cars and motorcycles equal to or less than 350 cc has been reduced from 28% to 18%. Also, the GST on all........

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