GST Council to consider rate cut on items with low revenue impact on July 21

The GST Council may consider reduction in tax rates on host of items with low revenue implications as part of the tax rationalisation exercise in its next meeting on July 21. The items which could be considered for cutting of tax rates might include sanitary napkins, handicrafts and handloom goods, besides certain services. Several industry bodies and stakeholders have been demanding duty cut on i…