New Delhi, Aug. 15 -- Summary Prime Minister Narendra Modi announced a major GST reform, proposing a two-slab tax structure to replace the current multiple slabs by Diwali 2025.

This initiative aims to simplify the tax system, reduce the tax burden, and empower citizens and industries, aligning with the government's vision of an 'Atmanirbhar Bharat'.

The Centre has proposed to replace the current multiple slabs with a two-slab structure as part of the next phase of reforms under the Goods and Service Tax (GST) regime by Diwali, Prime Minister Narendra Modi announced in his speech on August 15, 2025.

"This Diwali, I am going to make it a double Diwali for you. Over the past eight years, we have undertaken a major reform in GST. Now, we ...