The breadth and depth of the new rate cuts, analysts at Bernstein said, especially in the fast-moving consumer goods (FMCG) categories saw rate reductions well beyond what they thought was possible
Explainer: What the GST Council's GoM on rate rationalisation is, how it works, who its members are, and how its decisions could shape India's two-slab GST plan by Diwali 2025
The only way to minimise logical inconsistencies, lobbying for classification changes and confusion about the applicable rates is to apply the 12% and 18% rates to almost all items