Given the aggressive take on the NDA-Congress on indirect tax implementation, the GST Council's 31st meeting today will decide on reducing rates on some of the most common products. Some of the items that can see a rate cut will be from the highest tax bracket of 28% including camera, cement, dishwashers. Plus the decision will also be taken on other products that are of local interest in some of the states.
On Tuesday, Modi made a call to reduce keep 99% of the items in sub-18% GST ax slab and only sin and luxury items would be placed in 28% tax bracket. Also, the comments by Modi were sharply condemned as some of the Congress leader who also happens to be GST Council member said that his statement undermines the constitutional authority of the Council.
Disaster cess is also left unattended i.e. there is no call made on the idea i.e. to raise financial resources to help rehabilitate the areas which have been prey to the natural disasters.
Also, there shall be further discuss over simplification of return filing which for the past 18 months has not been an easy and simple exercise to go about.