Now, GST rates are cut a little further by the Council: Angel Broking

Mr.Vaibhav Agrawal (Head of Research and ARQ): “Cut in the GST rates of 66 essential items is expected to ease the inflation worries as well as this will also benefit the respective sectors, mainly FMCG, in our opinion. Additionally, the annual turnover limit to avail the Composition Scheme has been enhanced from Rs.50 lakhs to Rs.75 lakhs reducing the burden of compliance on smaller businesses. From FM’s comments we believe that there could be some hope to the auto companies over the high GST rates on the hybrid vehicles. Overall we believe that the GST council, by remaining responsive, is taking correct steps to ensure smooth implementation of GST.”