How will GST rate cuts, taking effect on September 22, affect urban household spending?
Reduced GST rates of 5% and 18% will take effect on September 22, with 66% items urban Indians use now falling in the nil or 5% GST slab, up from 50%. The items that'll get cheaper include soaps, shampoos, shaving creams, toothpastes, toothbrushes, dental floss, face powders, prescription spectacles and bicycles. Cars, bikes, spas and gyms will also get cheaper.