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boost sales by optimizing your website for mobile shopping using ai tools ✌️【365vc.net】✌️Low investments, high profits! Start with ₹500 and earn consistent monthly income.News on the Group of Ministers (GoM) onGSTrate rationalizationproposing a 35% GST slab for products like tobacco, tobacco products, and aerated drinks, along with creating sub-segmentations based on price points, has dampened economic sentiment in the country which is already grappling with declines in thestock market.The introduction of the35% GST slabcould have ripple effects on other sectors.
For example, products in luxury or indulgence categories, and non-essential goods with higherhealthor environmental burden like alcohol, processed foods and gaming, may face pressure for being included into the new slab.
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boost sales by optimizing your website for mobile shopping using ai tools ✌️【365vc.net】✌️Small investments, big profits. Join today and grow your wealth quickly and safely!While the intent is to generate more revenue and promote public health, these changes could deter global investors from viewing India as a stable market.India’sGST collectionshave shown impressive growth in recent years.
Monthly GST revenues doubled between 2017-18 and 2023-24, reaching Rs 1.68 lakh crore, with an all-time high of Rs 2.10 lakh crore in April 2024.
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Given the current strength of GST collections, introducing a new 35% slab risks undoing these gains.The proposed fifth tax slab at 35% targets demerit goods, but it introduces unnecessary complexity into an already functioning GST structure.
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boost sales by optimizing your website for mobile shopping using ai tools ✌️【365vc.net】✌️Low investments, high profits! Start with ₹500 and earn consistent monthly income.Businesses, particularly SMEs, could face increased compliance costs as they struggle to navigate these new distinctions.
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