GST council meet: Tax rates of 70 products reduced

Tax rates of over 70 products have reportedly been reduced. During the 23rd GST Council meeting on Friday in Guwahati headed by Finance Minister Arun Jaitley, prices were cut on common-use goods for the benefit of consumers and businesses. The GST Council lowered the tax rates for textile products from 18% to 5% and the rates for farmer tractors has been reduced from 28% to 18%. Tax rates of around 200 products are expected to be lowered by the end of the meeting.

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