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flag India's GST Council plans major tax reforms, including rate cuts on goods to boost consumption.

flag The GST Council in India plans a major review of the country's tax regime, considering rate cuts on consumer goods and air conditioners, and potentially eliminating the 12% GST slab. flag The council is also looking at reducing or eliminating GST on pure term insurance policies and maintaining revenue by taxing "sin goods" like tobacco. flag The goal is to create a more stable and predictable tax system, even if it means some short-term revenue loss to boost consumption.

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