GST meeting underway in New Delhi, slashing of tax rates expected

Amid talks of tax rate cut ahead of the 2019 Lok Sabha elections, the Goods and Services Tax (GST) Council meeting will convene on Saturday. During the meeting, the Council is likely to make a decision on slashing tax rates on several items such as cement, automobile tyres to 18 per cent from the current 28 per cent. "A 28 per cent tax on automobile tyre impacts common man because ultimately he has to shell out the tax. The overall focus on December 22 Council meeting will be to lessen the GST burden on common man," PTI quoted a GST official as saying.