- The Union government has reconstituted the ministerial group of the GST Council to recommend simplification of the tax structure and a rejig of its multiple rates.
- The group was suspended since the Karnataka assembly polls in May but has now been reconstituted with Karnataka’s Revenue Minister Krishna Byre Gowda and Uttar Pradesh Finance Minister Suresh Kumar Khanna as the convenor.
- The GST structure officially has four main rate slabs, but the practical implementation involves about a dozen different rates.
- Tax experts and industry leaders have been urging the government to revive the rate rationalization plan as GST revenues have stabilized.
- The reconstituted group may also provide recommendations on the future of the GST Compensation Cess.
- In October, the GST Council initiated discussions on introducing a cess or surcharge on top of GST levies after the expiry of the GST Compensation Cess in March 2026.
- In June 2022, the GST Council accepted some of the GoM’s recommendations to withdraw exemptions and concessional rates on various items.
Source: taxscan.in
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "India"
- Supreme Court Rules: “Parts” Must Functionally Integrate into Machinery, Rejecting End-Use Claims
- Centre to Consider Panel’s GST Recommendations on Air Purifiers, Tells Delhi High Court
- Sunglasses Not Classified as Spectacles, Taxable at Higher 12.5% VAT: Punjab & Haryana HC
- BMW Urges No GST Hike on EVs as Electric Car Sales Surge Over 200% in 2025
- Supreme Court: Hostel Rooms for Students Qualify as Residential Dwellings, GST Exempt
