Sin Goods: What They Are and Why They’re Taxed in the Highest GST Slab

The tax system just got a big shake-up. Union Finance Minister Nirmala Sitharaman has announced a new 40% Goods and Services Tax (GST) slab, the highest so far aimed at sin goods and select luxury items. At the same time, the government has simplified the GST structure by trimming most goods into just two slabs: 5% and 18%.