Centre may consider tax cuts for products in highest GST slab

More items may be knocked off the highest GST slab in an attempt to boost demand, as per a reportin The Economic Times. The economic slowdown has most states in favour of a tax reduction. Worried about the demand slump and unemployment, they communicated these concerns to the Centre as well, it said. The Indian economy slipped to a five-year low of 6.8 percent in FY19, with January seeing the lowest numbers at 5.8 percent. The GST Council, under new Finance Minister Nirmala Sitharaman, may meet ahead of the Budget presentation on July…

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New Tax Laws And Rising Prices Likely To Squeeze Out Many New Car Shoppers

Lafayette – Circa April 2018: Local Ford Car and Truck Dealership. Ford sells products under the Lincoln and Motorcraft brands XIIGETTY On a frigid Sunday morning in downtown Detroit, economists from Cox Automotive threw icy cold water on consumers’ hopes of swinging a brand new vehicle this year. But don’t blame the messengers. They were simply reviewing for reporters how the combination of rising new vehicle prices and a change in federal tax withholding laws could simply put factory-fresh cars and trucks out of reach for many consumers, sending them…

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