The GST Council has the rates on several staple and essential categories from 18 per cent to 5 per cent
The breadth and depth of the new rate cuts, analysts at Bernstein said, especially in the fast-moving consumer goods (FMCG) categories saw rate reductions well beyond what they thought was possible
Nifty FMCG rose 2.66 per cent in early deals after the Goods and Services Tax (GST) Council, chaired by Finance Minister Nirmala Sitharaman on Wednesday, simplified the GST structure