State finance ministers and the federal finance minister as the chair, will shortly meet to decide on reducing tax rates to boost growth that has fallen to a six-year low.

Panaji: India’s goods and services tax panel is likely to recommend tax cuts on 20-25 products on Friday but will avoid lowering rates for items that will significantly dent revenue collections, two government sources said.

The panel, comprising state finance ministers and the federal finance minister as the chair, will shortly meet to decide on reducing tax rates to boost growth that has fallen to a six-year low.

The proposed GST tax cuts will have limited impact on government revenue, the sources said.