GST

New Delhi (Rajeev Sharma): India has entered a new phase of indirect taxation with the launch of GST 2.0, which takes effect nationwide from today. The overhaul replaces the earlier four-rate structure with a streamlined system that has just two regular slabs – 5% for essentials and 18% for most goods and services – along with a steep 40% levy on luxury and sin products. The government has pitched the reform as a consumer-friendly move that will ease compliance, reduce disputes, and ultimately bring down the cost of living. Prime Minister Narendra Modi, hailing the transition as the start of…