After the latest rounds of rate cuts by the GST Council on July 21, only 35 items are left in the 28% tax slab
The abolition of the cess on ambulances was positive for Force Motors, the largest player in that segment, India Infoline added
The move comes amid instances of companies and restaurants persisting with high rates, raising profiteering concerns
Only luxury or sin goods are likely to stay in the 28% slot
A total of 178 items were shifted from the highest tax bracket of 28% to 18%, in one of the biggest revamps in the GST list
GST Council had last week brought down tax rate on 178 products from 28% to 18%