Overview

• Finance Minister Nirmala Sitharaman said the implementation date was chosen with Durga Puja and Navratri in mind and reiterated there will be no special compensation to states for any revenue dip.
• The new structure sets most goods and services at 5% or 18%, reserving a 40% rate for luxury and sin categories approved by the GST Council at its 56th meeting.
• CRISIL estimates a short‑term annualised revenue impact of about Rs 48,000 crore but says simplification and stronger demand could offset it, with new services like e‑commerce delivery taxed at 18%.
• A FICCI CASCADE report says the 5% basket nearly triples to 149 categories and argues lower rates can curb illicit markets, noting illicit tobacco taxes reached Rs 41,000 crore in recent years.
• Leaders are urging shoppers to take advantage of lower prices and prefer Indian‑made goods, with government communications citing staples such as ultra‑pasteurised milk, packaged paneer and breads at 0% and processed foods like biscuits, namkeens, cereals and coffee at 5%.