Government to lower GST Slabs

The stage is set by the Government for a reduction in goods and services tax on around 25 -30 items – including air conditioners , Dishwashers and digital cameras – over the weekend after Prime Minister NARENDRA MODI strongly hinted on Tuesday about the Luxury goods being in the top of the GST slab of 28% while bringing 99% of products and services in the 18% or lower brackets . The Government has repeatedly promised the public that it will look at Reducing rates as collections will improve and compliance rises. “Today , the GST system has been established to a large extent and We are working towards a position where 99% items will attract the Sub -18% GST slab,” Prime Minister Modi said at an event in Mumbai on Tuesday . Rates are also expected to be cut off on farm related products , such as irrigation sprinklers , and other Items that currently face 18% tax will also be discussed in the GST Council meeting which will be held on Saturday .