India's New GST System
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New GST System in the country :- The implementation of a new GST system is a great step forward, as it aims to simplify the tax code, lessen the expenses of regular citizens, and make taxation more equitable. This shift is expected to have a positive effect on households countrywide 🌍and bring about increased economic growth and higher living standards. The new GST will implement a 0%, 5%, 12%, 18%, or 28% tax on most goods and services, with some items, such as staples, being exempt from taxation. This should lead to lower prices on a majority of products and a decrease in the cost of goods and services that have been taxed at a higher rate🔥. Additionally, the same tax will be applied to goods and services all over the country, thus streamlining the taxation system. The GST rate structure is predicted to reduce the prices of goods and services for the average family😄, which will reduce the total expense of purchased items. This in turn will lighten the load on households and help