The government has introduced a new 40% GST slab, the highest ever, aimed at “sin goods” and select luxury items. This GST 2025 update explains which products are affected and why they now face the steepest tax rate.
The Finance Ministry plans to replace the outdated Central Excise Act with a modern Central Excise Bill in an effort to streamline taxation and business processes. The new bill aims to enhance ease of doing business and eliminate obsolete provisions, with a focus on goods not covered under the Goods and Services Tax. The ministry is seeking feedback on the draft bill until June 26th.
