India – GST Council reduces the tax rates of various goods, mainly goods taxed at 28% and relaxes the compliance due dates

In its 23^rd meeting, the GST Council significantly reduced the applicable tax rates on various goods. The Council also made amendments in the composition scheme, taxation of restaurants and relaxed the compliance requirements for taxpayers. The Council has also recommended issuance of certain clarifications to address the grievance of trade on issues relating to GST rates and taxability of certain goods/ services.