The council responsible for India's goods and services tax (GST) has slashed the levies on more than 50 products, including baby milk and fertiliser, as Prime Minister Narendra Modi seeks to woo middle-class and business voters ahead of next year's elections. GST was abruptly brought into force nationwide last year in an effort to cut the government's fiscal deficit and has not been popular. Fortified baby milk as had its tax eliminated completely, and GST on fertiliser-grade phosphoric acid has been reduced from 28 percent.
The council responsible for India's goods and services tax (GST) has slashed the levies on more than 50 products, including baby milk and fertiliser, as Prime Minister Narendra Modi seeks to woo middle-class and business voters ahead of next year's elections. GST was abruptly brought into force nationwide last year in an effort to cut the government's fiscal deficit and has not been popular. Fortified baby milk as had its tax eliminated completely, and GST on fertiliser-grade phosphoric acid has been reduced from 12% to 5%.