The GST Council on Wednesday cleared sweeping changes to the indirect tax regime, approving an overhaul of rates by limiting slabs to 5 per cent and 18 per cent effective from September 22, the first day of Navratri. mid-day spoke to a few experts on what this means for the common man.

Diwali bumper
Viren Shah, president, Federation of Retail Traders Welfare Association (FRTWA)

“The Goods and Services Tax (GST) has been cut for close to 90 items. This is big news for our traders. I would term it a Diwali bumper bonanza. This time, Diwali is going to be good; we should see a shopping boost, especially for middle-class and lower-middle-class families. In some items, GST has been reduced; in others, it is practically nil. Several daily essentials have a nil GST rate, and GST will also no longer be applicable on exercise books, notebooks, stationery, school/college supplies, and children’s items. Cars, televisions will see a lesser GST. We also have clothes that are under Rs 2500 at 5 per cent GST. We have shoes attracting less GST. There may be some slight disappointment with apparel like bridal wear above Rs 2500, attracting 18 per cent GST. Yet, overall, the upsides have put a pre-Diwali sparkle into our lives.”