TIA NEWS
Revenue Secretary Hasmukh Adhia has said, Inflation will fall by two per cent on implementation of the goods and services tax, GST, and will create buoyancy in the economy. In an interview to a news agency, he said the all-powerful GST Council will meet next week to decide on tax rates of contentious items like gold, bidi and biscuits, just in time for its rollout from July 1.
Mr Adhia also expressed confidence that the requirement of compensation to make up for revenue loss of any state will be fulfilled from cess on demerit and luxury goods like car and tobacco.
