Luxury cess may fold into GST, 12% slab likely to go

After eight years of piggybacking on India's goods and services tax (GST), the compensation cess levied on sin goods and luxury items may be finally integrated into GST levied on these items. According to two people familiar with discussions in the GST Council, the Union finance ministry is willing to integrate the cess on items like cars, tobacco and aerated drinks into their GST rates. The cess,…