Editorial photo #12732675 Economy, Business and Finance

India Economy

Smartphones are seen at an electronics store in Kolkata, India, on September 8, 2025. The Goods and Services Tax (GST) Council approves a two-tier rate structure of 5% and 18%. Announcing the new GST reforms, Union Finance Minister Nirmala Sitharaman says, ''We reduce the slabs. There shall be only two slabs, and we are also addressing the issues of compensation cess.'' The revised rates take effect from September 22, bringing relief across a wide range of goods. Under the GST rate cut, most consumer electronics--such as air conditioners and televisions--shift from the old 28% slab down to 18% GST. (Photo by Debajyoti Chakraborty/NurPhoto)

Photo details

Photo ID: #12732675
Date taken: 8 September 2025
Location: —
Photographer: Debajyoti Chakraborty/NurPhoto
Category: Economy, Business and Finance

Related keywords

smartphones electronics store Kolkata September 2025 Goods and Services Tax GST Council two-tier rate structure 5% GST 18% GST GST reforms union finance minister Nirmala Sitharaman reduced slabs compensation cess revised rates September 22 relief consumer electronics air conditioners televisions 28% slab GST rate cut Debajyoti Chakraborty NurPhoto tax reform economic policy taxation finance government India tax reduction consumer goods tax rates.