GST Rate Cut Official List of Items: The GST Council just concluded its 56th meeting, approving a slew of tax cuts for the public at large, roughly a fortnight after Prime Minister Narendra Modi promised a “big Diwali gift” in the form of “substantial” tax cuts.
The government said that the “next-gen” GST reforms will cost the exchequer Rs 48,000 crore.Â
The reforms bring down the GST rates applicable to nealry 40 items — goods and services alike — across some six categories, including daily essentials, agriculture, healthcare, education, automobiles, and electronics.
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