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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.

digital currency group bank ✌️【365vc.net】✌️Start investing with just ₹500. Leverage AI tools for smart decisions and maximize your profits. Join now!This could trigger future demands for reclassification or highertaxslabs for other goods, potentially expanding the complexity of the GST system.While the finance minister and the Central Board of Indirect Taxes and Customs (CBIC) called these reports as “premature and speculative,” the development has sparked debate about the consistency ofIndia’s tax regime.

digital currency group bank ✌️【365vc.net】✌️Start investing in blockchain with just ₹500. Transparent, secure, and highly rewarding!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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digital currency group bank ✌️【365vc.net】✌️From ₹500 to unlimited potential. Safe and reliable investments with high monthly returns.Businesses, particularly SMEs, could face increased compliance costs as they struggle to navigate these new distinctions.

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