Goods and Services Tax

GST rejig:Tax rate on 178 daily items reduced to 18% from 28%

"The decision of GST Council on pruning of the 28 slab list would be a welcome move for many industries in mass consumption space. In certain cases, it is also likely to bring down the total tax impact even lower than earlier regime which would be a big relief to the industry as well as consumers."

Krishan Arora
Partner, Grant Thornton India LLP

This article appeared in Financial Express on 11th November, 2017.