Battered telecom sector may soon see a GST rate cut

Amid mounting woes of telecommunication companies and their falling revenues, the GST Council may cut rate on telecom services to 12% from the existing 18%. The proposal is under consideration of the fitment committee of the GST Council, which may decide on reducing the levy considering that the sector pays around 30% of its earnings in taxes and other fees, including spectrum usage charge. The de…