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GST to Cut Inflation by 2%, Create Buoyancy in Economy: Adhia

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Inflation will fall by 2% on implementation of the goods and services tax (GST) and will create buoyancy in the economy, Revenue Secretary Hasmukh Adhia has said.
With the stage set for the biggest overhaul of India's tax system since Independence, the government will launch a massive awareness campaign to educate consumers about GST so that they are not fleeced by traders in the name of new tax.
 
In an interview to PTI, he said the all-powerful GST Council will meet next week to decide on tax rates of contentious items like gold, bidi and biscuits, just in time for its roll-out from July 1.
 
The Council over the two days last week assigned tax rates to more than 500 services and 1,200 goods by setting them in five broad rates of 5, 12, 18 and 28%.
 
Adhia and his team visited this pictures que hill station near Srinagar for a short break before heading back to Delhi.
 
The Economic Times  New Delhi, 22nd May 2017

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