New Delhi: The Goods and Services Tax (GST) council will address on the change in taxation of some items like bio-diesel buses, electric vehicles and irrigation equipment on its assembly in the coming week.

From the news report in the Business Standard, the rate for agricultural watering equipment may be reduced from 18 percent to 12 percent, Likewise, bio-diesel vehicles and electric vehicles may be reduced from 28 percent to 18 percent.The tax rate fixing administrative unit had finalized the small list for rate decreased earlier this week and this may be taken by the GST Assembly.This will be the endmost meeting before the ceremony of the Budget 2018. The Finance Minister Arun Jaitley will present the Union Budget 2018 on February 1.

In the last meeting, the council met on December 16, when it approved mandatory compliance of the e-way bill for the inter-state movement from February 1 to curb tax evasion.The items short-listed for rate reducing in the upcoming meeting with an objective of giving a push to agriculture and clean energy. Other items in the 28 percent tax slab will not be taken up this time with revenues yet to stabilise, “an official told Business Standard.