Overview

• The GST Council approved a simplified structure moving most goods to 5% or 18% with a narrow 40% demerit band, covering 375 items effective September 22.
• CBIC chief Sanjay Kumar Agarwal said the department will take up complaints on firms not lowering prices, as Finance Minister Nirmala Sitharaman vows personal monitoring.
• The government will not revive the former anti-profiteering authority and will rely on competitive pressure and targeted interventions to ensure benefits reach buyers.
• Officials say fiscal space from phasing out the compensation cess enables the cuts, with the levy slated to be abolished by end-2025 or earlier.
• The package targets inverted duty structures and compliance ease, with faster refunds, simpler registration, and GST appellate tribunal hearings expected to begin this year, as the BJP urges traders to pass on every rupee of relief.