In a move to shore up public spending and revive investor sentiment, the government had cut down tax rates on 200 items, ranging from chocolates to wristwatches, in the biggest Goods and Services Tax (GST) revamp yet. The decision, meant to provide relief to consumers and businesses, was taken at the 23rd GST Council meeting in Guwahati, Assam, on Friday. Only 50 items left in highest GST slabMeanwhile, on Friday, Chidambaram had tweeted saying GST rates have been revamped because of Gujarat Elections,”Thank you Gujarat. The council now has only included luxury and sins goods in highest tax brackets. “178 items have been moved from 28 per cent to 18 per cent GST slab, changes will be applicable from November 15,” said Union Finance Minister Arun Jaitley.

Source: Indian Express November 11, 2017 07:18 UTC