New Delhi, Sept 22: India’s revised Goods and Services Tax (GST) system, termed “GST Bachat Utsav,” took effect on September 22, reducing taxes on approximately 370 products, including daily essentials and medicines.

Union Finance Minister Nirmala Sitharaman announced the initiative aims to boost consumer disposable income by about Rs 2 lakh crore.

Key changes include a zero-tax bracket for over 50 items such as UHT milk and bread, the exemption of 33 essential medicines from GST, and a reduction of tax rates on medical devices to 5%. School stationery is now tax-free, and various consumer staples have seen price reductions.

Dry fruits are taxed at 5%, while cement tax has decreased to 18% from 28%. Services like haircuts and gym memberships have reduced tax rates as well. Kitchen appl

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