Many consumer products as we all know still have 28% GST (Goods and service tax) due to which their prices are quite high. This rise in price is affecting their sales. There is a huge drop in the demand for such products.
Govt sees this as something urgent! On June 20th, ahead of the budget presentation, the GST Council is likely to meet up for reducing tax rates of those which belong to 28% tax bracket.
This is definitely a good news for both dealers and consumers! If you’re a dealer, enjoy sales! If you’re a consumer, enjoy buying goods for a cheaper rate. What do you feel about this tax reduction? Please comment below.
Source: Economic Times
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