Industry seeks Finance Ministry assurance on GST rate cuts; warns of duty inversion risks
India’s landmark move towards the next generation of Goods and Services Tax (GST) reforms has sparked concern among key industries. The worry is that proposed rate cuts could create inverted duty structures, negating the intended benefit for consumers. According to sources, multiple sectors—including tractors, pharmaceuticals, medical devices, chemicals, fertilizers, textiles and insurance—have flagged concerns to […]
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