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flag India plans GST reforms to simplify taxes, aiming to lower prices and boost consumption.

flag The Indian government is planning significant GST reforms to simplify the tax structure and provide relief to consumers and businesses. flag At a meeting starting September 3, the GST Council will discuss reducing the current four tax slabs to two—5% and 18%—with a 40% rate for sin goods. flag This move aims to lower prices and boost consumption, particularly before Diwali. flag States are concerned about potential revenue losses and are seeking compensation mechanisms.

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