Sugar sector multibaggers have skyrocketed up to 252 per cent so far this year; do you own any of these stocks? Sugar sector multibaggers have skyrocketed up to 252 per cent so far this year; do you own any of these stocks? According to the 48th GST Council Meeting, the government announced that the goods and services tax (GST) on sugar will be reduced from 18 per cent to 5 per cent. Kiran Shroff / Monday, December 19, 2022 / Article rating: 4.4 The government announced that the goods and services tax (GST) on sugar will be reduced from 18 per cent to 5 per cent and will also increase the sugar export quota for the financial year 2022-2023.