GST Rate Cuts Impact on Sectors

• Auto, pharma sectors are benefited from GST rate cuts, while airlines feel their wings are being cut.

• The stock market reflects mixed reactions to the tax changes, with the Sensex up 0.2%.

• Airlines criticize higher GST on non-economy seats.

• Vegetable oil producers call for resolution of inverted duty structure on edible oils, which is corrected for fertilizer and man-made textiles industries.

• Increase in GST rate for labour charges from 12% to 18% has led to resistance from small entrepreneurs.

• Textile industry welcomes revision of GST rates for man-made fibre and cotton sectors, but expresses disappointment over the 18% duty for garments priced above ₹2,500 each.

• Auto manufacturers also welcome rate rationalisation and removal of GST Compensation Cess applicable on cars.

GST Rate Reduction Effects is important topic for Civil service exam (WBCS).

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