The GST Council may today approve tax cuts on items that fall within the 28% slab and slash rates for daily use items, plastic products and hand-made furniture as it looks to provide relief to consumers.
The GST Council on Friday decided to reduce tax rate on a wide range of daily use items to 18 per cent from current 28 per cent. Finance Minister Arun Jaitley said the Council has decided to cut tax rate for restaurants to 5 percent. The new tax rate would be applicable to both AC and non-AC restaurants, except those in five-star hotels.
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