GST Rate Cuts: Impact On Businesses And Government

Despite murmurs of opposition by a few states, the 31st GST council meeting was remarkably successful in fulfilling the central government’s objective of cutting GST rates. Rates of more than 20 goods and several services have been reduced. The decision was in line with the long-term objective of the government to slowly reduce the scope of the 28 percent category and merge the 18 percent and…