The Group of Ministers on rate rationalisation, led by Bihar Deputy CM Samrat Chaudhary, met to discuss proposals for GST rate changes in various sectors.
The Group of Ministers (GoM) on rate rationalisation, led by Bihar Deputy CM Samrat Chaudhary, met to discuss proposals for rate changes in sectors like insurance, restaurants, beverages, and online gaming. While not all members supported changes or reductions in the existing GST slabs, the GST Council is expected to maintain the current tax slabs (0%, 5%, 12%, 18%, 28%) without changes, as no plans to alter the system or compensation cess on jewellery are proposed. The GoM's main goal is to simplify and adjust the GST rate structure, with a focus on increasing revenues from the tax.
August 22, 2024
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