Despite high inflation, no major rate cut on GST Council agenda

Despite high inflation, the upcoming meeting of the federal Goods and Services Tax (GST) Council is unlikely to cut rates on major consumer products like air-conditioners, electronic items, gems and jewellery, ready-to-eat and cook foods, instant food mixes and tobacco products among others. The existing rate of 18 per cent on such items is set to stay as per the recommendations of the ‘fitment co…