New Delhi: The government is considering major revamp in GST structure and rates may be lowered on cars and biscuits, according to reports.
A meeting will be held on September 20, 2019 in Goa in this connection. It may consider the demand of the auto and FMCG sector to reduce levies on cars and biscuits.
The council may also consider other avenues of generating revenues to offset the revenue loss due to lowering of GST rates on autos and biscuits. The GST Council will take a final call on the matter.
Branded biscuits in India attract a GST rate of 18%. Biscuit makers like Parle, Britannia have demanded a reduction in GST rate from 18% to 12%, the rate applicable on unbranded biscuits.