GST 2.0: Major Rate Cuts On Textiles, Fertilizers Proposed; India-US Trade Deal Weighed |India Today

Описание: The textile and fertilizer industries are positioned to gain from a proposed GST 2.0 rationalization aimed at resolving the inverted duty structure. A fitment committee has suggested reducing GST rates for categories like woven fabrics and apparel to 5%. For the fertilizer sector, the council is considering a rate cut from 12% to 5%. The proposals extend to common household items such as cheese, ghee, butter, and chocolates, which could also see rates drop to 5% to encourage consumption. These suggestions will be taken up by the GST Council, chaired by Finance Minister Nirmala Sikaraman, in New Delhi on the 3rd and 4th of September. The discussion also covered the India-US trade deal, with an expert stating, "I don't think Indian negotiators will agree to a bad deal," emphasizing the need for pragmatism while considering domestic and global politics. #gstratecut #gstcouncil #gst #itwebvideos #textiles #fertilizers #breakingnews #indianeconomy #tradedeal #indiaus #taxcuts #consumption #businessnews #nirmalasikaraman #gst2point0 #inverteddutystructure
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