India, Sept. 3 -- Indian shares look set to open higher on Thursday after the Goods and Services Tax (GST) Council approved a new dual-slab structure of 5 percent and 18 percent, and scrapped the existing 12 percent and 28 percent rates, in a landmark move aimed at simplifying India's indirect tax regime.
According to Finance Minister Nirmala Sitharaman, the revised structure will be implemented from September 22. The restructured tax framework is positioned as a step to stimulate domestic demand and help businesses cope with global trade challenges.
Benchmark indexes Sensex and Nifty reversed early losses to close about half a percent higher on Wednesday after a survey showed India's service sector growth accelerated to more than a 15-ye...