BUZZ-Colgate India, Dabur rise on media report government may eliminate 12% GST slab** Consumer staples producers Colgate-Palmolive India COLG.NS and Dabur DABU.NS rise 1.67% and 0.6%, respectively
** Indian government considering eliminating the 12% goods and services tax slab and reclassifying many items taxed at that bracket into the lower 5% bracket, NDTV reports
** Restructuring would target items such as toothpastes, umbrellas, sewing machines, kitchen utensils, report says
** Government believes lower prices could boost sales, and ultimately increase long-term GST collections, adds report
** YTD, COLG shares down 8.6% while Dabur down 4.2%
(Reporting by Ananta Agarwal in Bengaluru)
((Ananta.Agarwal@thomsonreuters.com))
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