GST Council cuts taxes on about 175 items from 28%, only 50 luxury and 'sin' goods like tobacco to remain in highest slab

The Goods and Services Tax (GST) Council on Friday decided to slash rates on more than 175 items, reducing taxes on these from the existing 28 percent in one of the biggest tax reductions since the new system kicked-in from July 1. The council, which is currently meeting in Guwahati, has decided to cut keep only 50 luxury and `sin’ goods like tobacco in the highest slab, paving the way for pr…