The GST Council will hold a crucial meeting on Friday to decide on tax moderation, keeping in mind the revenue position and the need to boost sagging economic growth.
Demands have been pouring in from sectors such as automobile, FMCG, and hotels for a reduction in tax rates in the wake of the economic slowdown.
Market participants and investors will closely monitor the outcome of the Council’s meeting, held amidst expectation of a sharp tax cut for the automobile sector.