Question
As per the revision in GST rates under the GST reforms,
tobacco products will be taxed at __________ÂSolution
The Government, at the 56th GST Council meeting, next-generation" Goods and Services Tax (GST) reforms, often referred to in the media as "GST 2.0 to be effective from September 22, 2025. • One of the major changes under the reforms included change in the tax slabs. The previous four-tier structure (5%, 12%, 18%, and 28%) has been mostly consolidated into a simplified two-slab system of 5% for essentials and 18% for most standard goods and services. • New 40% Slab: A higher tax rate of 40% has been introduced for select "sin" and ultra-luxury items like pan masala, tobacco products (to be implemented later), aerated drinks, and high-end cars.
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Which of the following statements is not true regarding CIBIL?