<h1>GST to Boost Domestic Manufacturing, Avoid Inflation; New Tax Regime Starts July 1, Simplifies Levies, Exempts Small Businesses.</h1> The government announced that the Goods and Services Tax (GST) will enhance domestic manufacturing without causing inflation. Revenue Secretary Adhia assured that GST will not lead to price hikes, unlike in countries with single-point taxation, as India already has multiple taxation points. GST will align taxes on imported and locally manufactured goods, thus promoting domestic competitiveness. The new tax regime, effective from July 1, will consolidate various central and state levies. Businesses with turnovers up to Rs. 20 lakh are exempt, while those up to Rs. 50 lakh can opt for a simplified tax scheme. A refund mechanism for international tourists is not yet implemented.