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India to cut tax burden on several items to ease pain for small businesses

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - India will slash by nearly three-quarters the number of items subjected to the highest rate of a new nationwide tax, a state official said on Friday, as pressure grows for the government to reduce the burden on businesses amid an economic slowdown.The launch of a new nationwide goods and services tax (GST) in July transformed India's 29 states into a single customs union, but traders and small businesses complain it has increased their administrative and financial burden.Prime Minister Narendra Modi's government will cut to 50, from more than 200, the number of items ...

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First Published: Fri, November 10 2017. 15:03 IST