Overview

• The GST Council at its 56th meeting kept only the 5% and 18% rates, eliminating the 12% and 28% slabs.
• A special 40% band now covers so-called sin goods such as tobacco products, sugar-added and caffeinated drinks, and select high-engine vehicles along with private jets, yachts and helicopters.
• IPL match tickets, previously taxed at 28%, and coal, lignite and peat were placed in the 40% category.
• Health and life insurance will no longer attract GST following the Council’s decisions.
• Congress chief Mallikarjun Kharge alleged the changes tax farmers and labeled the policy a 'Gabbar Singh Tax,' while AIMIM’s Asaduddin Owaisi said years of rhetoric have not helped the common man.