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In the first half of the meeting in Guwahati, the Council decided to trim the 28% bracket to just 50 items, against 227 currently LATEST NEWS  : The GST Council on Friday decided to keep only 50 items, mostly demerit, sin and luxury goods, in the top 28 per cent tax bracket, Bihar Deputy CM Sushil Modi said. In the first half of the meeting taking place in Guwahati, the Council decided to trim the 28 per cent slab to just 50 items as against 227 items currently. ALSO READ: 177 items to become cheaper as GST Council decides to trim 28% slab The second half will see discussions on easing compliance burden on taxpayers and making the composition scheme more attractive. Here are the other developments expected from the meeting: 1) Rate cut for AC restaurants: Those in the restaurant business are hoping for a much-needed relief to come their way. (Read more here) The GST Council meeting is likely to witness deliberations on a number of topics, includin...

Only 50 items, mostly demerit, sin and luxury goods, to remain in the highest tax bracket of 28% LATEST NEWS :  In a major relief to consumers and industry, the Goods & Services Tax (GST) Council on Friday decided to lower the rates for 177 items in the highest tax slab of 28 per cent. In the first half of the meeting taking place in Guwahati, the Council decided to trim the 28 per cent slab to just 50 items, as against 227 items currently. High-end items, including automobiles, washing machine, refrigerator, sin goods like paan masala and cigar are among these 50 items. This is the biggest reduction seen since the GST implementation on July 1. "We decided to also look into the remaining 62 items and see if there is a scope for reducing rates on those items as well," said a state government official. The Council decided to go beyond the recommendation of the fitment committee to thin the 28 per cent slab to 62 items and decided to additionally lower...