GST rate rejig: Record festive sales brings no cheer as officials fear tax collection slump

Bengaluru: The state govt is closely monitoring festival shopping trends following reports of record sales growth, driven by the recent GST rate rationalisation. However, concerns about a potential revenue shortfall remain.The GST Council's decision to restructure tax slabs, reducing them from four rates to just two besides a new slab for luxury goods, has resulted in a decrease in prices of 375 c…