(LiveMint)
Federal indirect tax body, the Goods and Services Tax (GST) Council will consider reducing tax rates on a host of products on Saturday amid an intense political debate between Prime Minister Narendra Modi-led NDA government and the opposition Congress party on the tax reform’s implementation.
The Concil’s 31st meeting will discuss reducing tax rate on items in the highest slab of 28% such as cement, cameras and dish washers as well as on products that are of local interest to individual states. However, there is no final word on the proposal for a disaster cess to raise resources for rebuilding states that face natural disasters. A panel of state ministers is still examining the issue.
Prime Minister Narendra Modi had on Tuesday said that he has given suggestions to the Council and that the effort is to make sure 99% of items attract 18% or lower, leaving sin or luxury items only to be taxed at the highest rate of 28%.
