From Hair Oil to Cement, India Revamps Taxes: Winners and Losers
- Consumer staples including milk, fruit and grain exempted
- New goods and services tax scheduled to be introduced July 1
Consumer staples including milk, fruits and vegetables, grain and cereals have been exempted from tax.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
The wait is over: India has cleared the way for the biggest tax reform since independence in 1947.
The main beneficiaries of the new goods and services tax, due to be rolled out on July 1, include steelmakers and some consumer goods, though personal care items including sanitary ware will be taxed at the top rate, along with appliances such as air conditioners.