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Bihar trade, industry bodies welcome GST rejig

Press Trust of India  |  Patna 

Trade and Industry bodies of today welcomed the Council's decision to reduce on a wide range of mass-use items from 28 per cent to 18 per cent.

With the reduction in rate, these items will be consumed more giving impetus to business volume, Chamber of Commerce and Industries President P K Agrawal said.

PHD Chamber of Commerce and Industry, Bihar, Chairman and industrialist Satyajit Singh termed the decision as a good initiative by the

He also expressed hope that the Centre would rationalise the percentage, besides simplifying the tax return procedure.

In the biggest rejig yet, tax rates on over 200 items, ranging from chewing gum to chocolates, to beauty products, wigs and wrist watches, were today cut to provide relief to consumers and businesses amid economic slowdown.

The decision was taken at the council's 23rd meeting at Guwahati.

Industries Association (BIA) President and industrialist K P S Keshri, too, expressed happiness at the GST Council's decision.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 10 2017. 22:22 IST