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International Macroeconomics India Reduces and Simplifies the “Vat” Tranches to Counter the Impact of American Tariffs
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Bankinter Market Consensus India reduces and simplifies the “VAT” tranches to counteract the impact of American tariffs. The Goods and Services Tax (GST) is simplified in 2 sections vs. 4 above and is reduced to 5%/18% from 18%/28% for basic consumer products. It is eliminated for some concepts such as health and life insurance. On the contrary, luxury or considered harmful products (tobacco, carbonated beverages) will be taxed to 40%. [...]
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