New Rates, Relief For Middle Class On Daily Use Items On GST Council Agenda

The expected consumption boost from this rationalisation, to be confirmed after the GST Council meets, is expected to offset around Rs 50,000 crore in revenue loss. The Goods, Services Tax Council, led by Finance Minister Nirmala Sitharaman, meets today to discuss a shift to a two-slab system expected to slash prices of daily-use items by rationalising and reducing the brackets under which most go…