India has announced an overhaul of its consumption tax system, making most everyday goods cheaper.
Its Goods and Services Tax will now be divided into two slabs of 5 per cent and 18 per cent, replacing the current four categories.
The new rates come into effect from 22nd September. The move comes as many businesses in India are being impacted by new hefty US tariffs.
Ishan Garg reports from New Delhi.
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