TAG: GoM
Exclusive: GoM on rate rationalisation not in favour of merger of GST slabs
The Goods and Services Tax (GST) group of ministers (GoM) on rate rationalisation chaired by Bihar Deputy Chief Minister Samrat Chaudhary, is not in favour of merger of the tax slabs and feels the current four rates need to be maintained, sources said.The...
1 month ago
GST Council likely to discuss cess, status of rate rationalisation on September 9: FM Sitharaman
The upcoming GST Council meeting on September 9 is expected to focus on two crucial issues - the status of rate rationalisation and the future of the compensation cess, Union finance minister Nirmala Sitharaman said.“In the September 9 meeting, the office...
1 month ago
GoM decision on GST rate cut on life and health insurance deferred, next meet on Oct 19
No final decision was made on the proposal to cut goods and services tax (GST) rates on life and health insurance during the Group of Ministers (GoM) meeting held on September 25, sources said."Issues were discussed but nothing was finalised in today’s me...
3 weeks ago
GoM may gradually phase out of 12% GST slab to rationalise rates, sources say
The Group of Ministers (GoM) on Goods and Services Tax (GST) rate rationalisation is likely to push for phasing out the 12 percent tax slab by gradually shifting items to either the 5 percent or 18 percent slabs to simplify the tax framework and ease comp...
1 week ago