The Goods and Services Tax (GST) Council has approved a dual tax rate structure of 5% and 18%, with the new rates taking effect from September 22. The move is expected to result in a revenue shortfall of Rs 93,000 crore. Industry experts believe that the GST rate cuts will benefit players across various sectors, including healthcare and formal sector businesses. Robust demand and pricing power point to a heating economy, with core inflation pressures also on the rise. As policymakers approve additional stimulus through GST rate cuts, the impact is expected to be felt in both urban consumpti...