GoM on GST rate rationalisation to meet on September 25 to discuss slab, rate tweaks
GST rate rationalisation will meet on September 25 and is expected to discuss tweaking of tax slabs and rates. «The meeting of the GoM on rate rationalisation is scheduled for September 25 in Goa,» an official told PTI.
The six-member Group of Minister (GoM) under Bihar Deputy Chief Minister Samrat Chaudhary, last met on August 22 and had submitted a status report to the GST Council on September 9.
During the August meeting, the panel had tasked the fitment committee comprising tax officers from the Centre and states to analyse the implication of tax rate change on some items and gather more data.
Currently, goods and services tax (GST) is a four-tier tax structure with slabs at 5, 12, 18, and 28 per cent.
Under GST, essential items are either exempted or taxed at the lowest slab, while luxury and demerit items attract the highest slab. Luxury and sin goods attract cess on top of the highest 28 per cent slab.
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