Chennai: An important meeting of the GST Council is under way right now in New Delhi. The 31st meeting of the council got under way under the chairmanship of Finance Minister Arun Jaitley this morning.
It is expected to substantially slash Goods and Services Tax rates after Prime Minister Narendra Modi said in so many words a couple of days ago. Also, the BJP government at the Centre has been scalded by the results in the five States where it faced defeat in the Assembly elections.
GST rates are expected to be cut for FMCG goods, tyres, electronic items that were in the highest rate bracket.
Fisheries Minister D Jayakumar is representing Tamilnadu at the meeting.