India cuts tax rates on 23 items

By  Trend

Indian government decided to cut tax rates of 23 items on Saturday, taking effect from Jan. 1, Trend reported citing Xinhua.

The decision was taken at a meeting of the Goods and Services Tax (GST) Council in New Delhi.

The items include movie tickets, TV/monitor screens, power banks, digital cameras, video camera recorders, frozen and preserved vegetables.

According to the country's Finance Minister Arun Jaitley, seven items were brought down from the 28 percent tax slab to 18 percent slab. Now, only 28 items are left in the highest tax slab of 28 percent.