28th meeting of GST Council under the chairmanship of Union Finance Minister Piyush Goyal is being held in Vigyan Bhawan, Delhi. Several important decisions can be taken at the meeting with significant changes in the new indirect tax system, simplifying returns, including cutting of GST rates and applying cess on sugar can be considered.
There may be a decision to cut the rate of 40 products of handicrafts, 32 services and 35 items in the meeting. It is believed that the GST Council meeting is likely to decide on the reduction of tax on lithium-ion batteries from 28 per cent to 18 per cent. The government can reduce the GST rate on sanitary napkins, marble, handloom and handicrafts, including water coolers, ice cream machinery etc. Sanitary napkins and most handicraft products currently have 12% GST.
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