GST rate cut timed with festive season, to spark early Diwali for consumers

摘要

The government's decision to cut tax rates on a wide array of consumer items is bound to bring in cheer to consumers ahead of the festive season starting this month with Rakhi and Onam. However, the tax rationalisation measures are being seen more as populist politics than sound economics by many. Ahead of the start of the festive season, the Goods and Services Tax (GST) Council recently brought down the rates of over 100 items, including consumer goods and domestic electrical appliances.