How much money will Modi govt lose due to GST reforms? Will it make Indian economy ready to take on US Tariffs?

If reports are to be believed, 99% of goods under the 12% slab would be brought under 5% category and 95% of products and services under 28% would be merged with 18% slab. The government is also mulling the idea of introducing a 40% slab for sin products.
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