GST Council likely to slash indirect taxes, only 62 items to remain in 28 per cent tax slab
New Delhi : GST Council will be holding a meeting on Friday in Guwahati to bring in the new changes, which might reduce item list of 165 to 62 with a 28% tax slab.
All those who are looking to buy new furniture for home may end up paying less tax after Friday meeting.
Those retained in the highest category could include digital cameras, shaving creams, paints and varnishes, cigars, pan masala, chocolates, cosmetics, vacuum cleaners, refrigerators, washing machines, hair conditioning items, hair dyes, and marble and granite.
Some common items might also have their rates slashed from 18 per cent to 12 per cent, as demanded by states such as West Bengal.
It is also expected that real estate will get included into the new indirect tax regime.
Finance Minister Arun Jaitley had said at an event on Tuesday that some of the items should never have been in the 28 per cent slab.