India's GST Council explores tax cuts on essentials and hikes on luxuries during 55th meeting.

The 55th GST Council meeting in Jaisalmer, India, chaired by Finance Minister Nirmala Sitharaman, is focusing on several key issues including proposed rate cuts for health and life insurance premiums, potentially bringing aviation turbine fuel under GST, and revising rates on nearly 150 items. The Council is also considering a new 35% tax slab for sin goods like tobacco and aerated drinks. They aim to lower the GST burden on essential items while hiking taxes on luxury goods and high-end services.

3 months ago
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