- GoM in India recommended lowering GST rates on water bottles, bicycles, and exercise notebooks
- Proposed reducing tax rates on 20-litre packaged drinking water bottles, bicycles, and exercise notebooks to 5%
- Suggested raising taxes on high-end wristwatches and shoes
- Decision would lead to a revenue gain of ₹22,000 crore
- Currently, GST is a four-tier tax structure with slabs at 5, 12, 18, and 28%
Source: fiscal-requirements.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
