Indian markets are likely to start Monday's session on a flat note
Indian markets are likely to start Monday's session on a flat note, with the SGX Nifty on the Singapore Exchange trading 9 points lower at 10,333. On Friday, the GST Council, headed by Finance Minister Arun Jaitley, slashed tax rates on more than 200 items - including beauty products, chewing gums, chocolates, coffee and custard powder - from 28 per cent to 18 per cent. The Council also made changes to the composition scheme. The panel decided that taxpayers with an annual aggregate turnover up to Rs. 1.5 crore need to file return using form GSTR-1 on a quarterly basis, while taxpayers with a turnover of above Rs. 1.5 crore need to file it on a monthly basis.