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India to lower items placed under maximum tax rate, minister says

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - India will slash the number of items placed in the maximum tax rate of 28 percent to 50 under the goods and services tax, deputy minister of a state said on Friday, after a meeting of state finance ministers and officials.The decision comes amid complaints by traders and small businesses which say the new nationwide tax, which came into effect from July, has increased their tax and administrative burden. (Reporting by Krishna N. Das; Editing by Malini Menon)(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, November 10 2017. 14:09 IST