Overview

• The new GST structure consolidates most goods into 5% and 18% slabs with a separate 40% band for sin or luxury items, taking effect on 22 September.
• Air conditioners and televisions move from the 28% bracket to 18%, a change expected to reduce retail prices for these products.
• Amul and Mother Dairy published updated price lists effective 22 September, lowering MRPs across milk, butter, ghee, paneer, ice cream and other packaged items.
• The Railway Board cut Rail Neer MRPs to ₹14 for 1 litre and ₹9 for 500 ml for sales on trains and stations, with customer complaint channels outlined for overcharging.
• In a national address, Prime Minister Narendra Modi called the reform a ‘GST savings festival’ and said combined tax changes could yield over ₹2.5 lakh crore in savings, with broader benefits for MSMEs.