The GST Council is working to reduce the tax rate: Finance Minister

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GST Council is working to determine the rate of garments and service tax (GST), Finance Minister Shiv Pratap Shukla said on Thursday.

A major announcement of the government about GST is forthcoming, he said at an event.

At present, GST 4 percent, 5 percent, 12 percent, 18 percent and 28 percent.

In the GST Council meeting in January, GST decided to slip 54 services and 29 items.

At the council meeting in November 2017, the Council removed 178 items in the 28 percent category and cut off taxes in all restaurants outside of the 5-star hotel outside the hotel.

He also said that the government is working to develop SMEs because it is an important part of the economy including production, employment, and exports.