GoM decides to cut GST on 20-litre water bottles, bicycles to 5%; raise rate on shoes, watches

The GoM on GST rate rationalisation has proposed lowering tax rates to 5% on 20-litre packaged drinking water bottles, bicycles, and exercise notebooks, while increasing taxes on high-end wrist watches and shoes. These changes could lead to a revenue gain of Rs 22,000 crore if accepted by the GST Council.