GST adds fuel to equity rally

Indian equities continue to scale new peaks, defying warnings by pundits of a possible consolidation

Indian equities are likely to continue their upward trajectory with the GST Council making significant headway in making the Goods and Services Tax (GST) a reality in the country. 

The Council met on Thursday and finalised tax rates for 1,211 items with a majority of items being kept at under 18 per cent. Market experts believe this is broadly in line with expectations and may further fuel the market rally in the coming days. 

Goods and services tax (GST) is a system of taxation that seeks to merge many individually applied taxes into a single tax and is a significant