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India's GST 2.0 cuts taxes on essentials, aiming to boost consumption and fair competition.
GST 2.0 in India, set to launch on September 22, aims to boost consumption by lowering tax rates on essential items.
Food and beverages will see their GST rate drop from 10% to 6%, while personal care items like soaps and oral care products will experience significant tax cuts, potentially reducing prices.
The reform targets the Rs 7 trillion organised FMCG market, aiming to level the playing field between formal and informal sectors.
However, public health experts warn that affordability gains may promote unhealthy choices if not paired with effective food labelling and regulations.
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El GST 2.0 de la India recorta los impuestos sobre los productos esenciales, con el objetivo de impulsar el consumo y la competencia justa.