Fearing higher GST rates on wires, cables & electronic components could have a crippling effect on the manufacturers, industry associations have demanded lower GST rate of 18 percent for these key products. While the current effective tax rate for these products works out to be 18.12%, under GST they will be taxed at 28%. A delegation of various associations led by Chamber of Associations of Maharashtra Industry and Trade (CAMIT) met Rajiv Jalota, Commissioner of Sales Tax, Maharashtra, on Saturday, to put forward their demand to revise GST rates for products under the HSN Code 8544 ...

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