India cuts GST rates
- Jun 18, 2019 | Richard Asquith
India has reclassified a range of goods to benefit from lower Goods and Services Tax rates this week.
The GST Council, which oversees the operations of the GST regime, agreed on 15 June 2019 to move a range of consumer goods from the top rate of 28% to the 18% band. This included televisions, batteries and cinema entrance. The council has so far taken more than 190 items, including washing machines and leather goods, out of the highest tax rate. Only 34 items - mostly luxury goods - remain in the top slab of 28 percent. This includes alcohol and tobacco.
The move comes in the middle of the general election campaign.