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Having undergone constant administrative/structural changes and rate revisions since its July launch, it was an overhaul that awaited the goods and services tax (GST) on Friday. The GST Council has brought down the tax rates on another 178 items from 28% to 18%, leaving only 50 or just over 4% — compared with 19% initially — of the goods in the highest slab that consumers found pinching, dented consumption and fanned inflation.

Rakesh Nangia, Managing Partner shares his views of aforemntioned story for Financial Express.

GST Council meet - Rakesh Nangia