The Indian government has simplified its Goods and Services Tax (GST) rates, introducing two major slabs of 5% and 18%, while imposing a special 40% tax bracket on luxury and sin products. This move aims to boost economic growth by reducing the number of tax rates from four to two, making it easier for businesses to navigate the complex tax landscape. The new GST rates will come into effect on September 22, impacting various sectors such as retail, hospitality, and manufacturing. Experts predict that this change will lead to increased consumer spending and investment in the country's econom...