GST Council: Rate rationalisation Group of Ministers to meet on September 25 to discuss slab, rate changes

The ministerial sheet connected GST complaint rationalisation volition conscionable connected September 25 and is expected to sermon tweaking of taxation slabs and rates.

"The gathering of the GoM connected complaint rationalisation is scheduled for September 25 successful Goa," an authoritative told PTI.

The six-member Group of Minister (GoM) nether Bihar Deputy Chief Minister Samrat Chaudhary, past met connected August 22 and had submitted a presumption study to the GST Council connected September 9.

During the August meeting, the sheet had tasked the fitment committee comprising taxation officers from the Centre and states to analyse the accusation of taxation complaint alteration connected immoderate items and stitchery much data.

Currently, goods and services taxation (GST) is simply a four-tier taxation operation with slabs astatine 5, 12, 18, and 28 per cent.

Under GST, indispensable items are either exempted oregon taxed astatine the lowest slab, portion luxury and demerit items pull the highest slab. Luxury and misdeed goods pull cess connected apical of the highest 28 per cent slab.

There person been talks of merging the 12 and 18 per cent taxation slabs, but thing has been projected truthful far.

Around 12 per cent, the mean GST complaint has fallen beneath the gross neutral complaint of 15.3 per cent. This has prompted the request to commencement discussions connected GST complaint rationalisation.

States specified arsenic West Bengal and Karnataka were not successful favour of tinkering with GST slabs for now.

West Bengal Finance Minister Chandrima Bhattacharya had said aft the GoM conscionable successful August, "I person said determination should beryllium nary changes successful the GST slab".

Karnataka Revenue Minister Krishna Byre Gowda had said the GoM has to analyse whether determination is request to "disturb" the GST system, which has present broadly stabilised.

"What bash you execute by disturbing it. We said successful adjacent gathering we volition sermon it (reducing slabs)," Byre Gowda had said.

The six-member GoM besides includes Uttar Pradesh Finance Minister Suresh Kumar Khanna, Rajasthan Health Services Minister Gajendra Singh, and Kerala Finance Minister K N Balagopal.