In a landmark move, the 56th GST Council—chaired by Union Finance Minister Nirmala Sitharaman—has approved a streamlined dual-slab Goods and Services Tax (GST) structure of 5% and 18%, effectively abolishing the existing 12% and 28% tax brackets. The decision, reached during the Council’s two-day meeting from September 3 to 4, has been hailed as one...
