https://www.taxtmi.com/news?id=55191 Imposition of elevated foreign tariffs creates a modest negative growth impulse and risks larger second and third round effects on investment and capital formation. The domestic policy response is a comprehensive GST overhaul-simplifying slabs, introducing a high rate for sin and luxury goods, and cutting rates on many consumer items-to substitute domestic demand for potential lost exports and to mitigate the tariff shock. Complementary measures include expanding farmers' market freedoms and insurance and a refusal to join any initiative to replace the dollar for cross border settlement. en-us Wed, 10 Sep 2025 13:31:03 +0530 Wed, 10 Sep 2025 13:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=55191 Imposition of elevated foreign tariffs creates a modest negative growth impulse and risks larger second and third round effects on investment and capital formation. The domestic policy response is a comprehensive GST overhaul-simplifying slabs, introducing a high rate for sin and luxury goods, and cutting rates on many consumer items-to substitute domestic demand for potential lost exports and to mitigate the tariff shock. Complementary measures include expanding farmers' market freedoms and insurance and a refusal to join any initiative to replace the dollar for cross border settlement. News - Wed, 10 Sep 2025 13:31:03 +0530 https://www.taxtmi.com/news?id=55191