 "Union Finance Minister Nirmala Sitharaman has said a final decision on streamlining GST rates and rationalisation of tax slabs is “very close”. Can these changes transform the indirect tax system?")
Nomura on GST rate rejig: The long-pending overhaul of India’s Goods and Services Tax (GST) structure may finally be gaining traction, with potential implications for sectors like agriculture and consumer durables.
According to a recent note by Nomura, if the proposed rationalisation plan goes through - including the scrapping of the 12 per cent GST slab - tractors and air conditioners (ACs) could see meaningful tax relief that may drive demand and improve pricing dynamics.
“As highlighted in our analysis, tractors fall in the 12 per cent tax bracket. In the event this slab is removed, we believe tractors
