Benchmark indices ended nearly 1% lower, amid weak global cues, with FMCG major ITC leading the decline on worries that post the proposed amendments to the GST Bill would result in higher effective tax rate for the company.
Investors are awaiting the outcome on the Goods and Services Tax constitutional amendment bill in Parliament.
According to reports, the long-pending GST Bill is listed for consideration and passage in Rajya Sabha on Wednesday amid strong indications that the most far-reaching taxation reform would be supported by Congress and all other major political parties.
The government is keen to get the GST Bill approved during the Monsoon Session of Parliament ending on August 12, 2016.
