Gom

The Centre’s proposal, once approved by the GoM, will be placed before the GST Council during its next meeting, scheduled in September.

Moving goods from 12% GST slab to cost Rs 80,000 cr in revenue annually

Government sources say a majority of the 12 percent slab items may move to 5 percent. The 40% GST rate on luxury and sin goods to parly offset losses.

GST Council may take up proposal for uniform 12% tax on fertilisers, inputs by September

The government is open to compensating industry through direct subsidy to protect end-user pricing, say sources

GST Council may discuss uniform 12% rate for textile sector by September

Move aims to fix duty inversion, rationalise rates across the value chain – from cotton to garments – to reduce compliance burden and attract investments

GST council needs to decide on compensation cess by October as loan repayment nears completion

With the GST compensation loan expected to be paid by October, the council will have to take the call on the levy, the legality of which could be called into question once the debt is cleared

GST Council meeting likely only after monsoon session as key GoM reports awaited

The GoM on rate rationalisation is still to agree on the proposed three-rate structure, as the issue of retaining or doing away with the 12% slab remains unresolved

Maximum GST rate cap may be raised ahead of expiry of compensation cess in April

GoM favours merging the levy the compensation with GST rates to leave the tax on high-revenue items unchanged. The cess will stand withdrawn from March 31, 2026

Medicines, tractors emerge as sticking points in scrapping 12 percent GST slab

There is likely a consensus on removing of the 12 percent GST slab, however, the resulting Rs 3,000-4,000 crore revenue loss shall have to be made up through other items, government sources have said.

GST Council likely to take up insurance tax relief at next meeting, GoM may stick to full exemption proposal

The Group of Ministers (GoM) on insurance is expected to stick to its previous recommendation, which had call for a full GST exemption on term life as well as health insurance premiums for senior citizens.

Millet biscuit is taxed, millet powder is not: GoM on GST rate rationalisation to review food classification

Sources say millet-based goods, popcorn, and donuts show why misclassification in food persists. Maharashtra, Karnataka, and Kerala asked to share inputs.

GoM mulls higher GST thresholds for textiles, footwear to boost consumption: Sources

The GoM may propose GST relief for products priced up to Rs 1,500, aligning with the Union Budget’s focus on boosting demand.

Finance Minister likely to engage with GoM to end impasse on 12% GST slab

The GoM, comprising Bihar, Uttar Pradesh, Rajasthan, Kerala, Karnataka and West Bengal, is divided on doing away with the 12% GST slab.

GST rate rationalisation challenging due to socio-economic, revenue considerations: CBIC Chairman

'The GoM is examining all issues comprehensively and will submit a report. They will have to arrive at some consensus,' Sanjay Agarwal said.

GST rate rationalisation process underway, say sources

The government had set up a ministerial panel, the Group of Ministers (GoM), to examine GST rate rationalisation.

GoM on cess likely to seek six-month extension from GST Council on December 21 meet: Sources

The GoM was initially scheduled to submit its report by December 31, 2024

GST GoM on cess likely to seek extension from Council, examining legal aspects

The GoM was initially scheduled to submit its report by December 31, 2023. However, its deliberations are ongoing, with additional legal and procedural complexities to address.

GST Council likely to meet in November after state elections, set to accept GoM report on insurance premium

GST exemption is likely to be proposed for all health insurance policies for senior citizens, it is learnt, as well as on health insurance of up to Rs 5 lakh for non-senior citizens.

Can the 12% GST slab be done away with to simplify the tax framework?

The 12 percent GST which is levied on items like butter, ghee, fruit juice, and packed coconut water contributes only 5 percent to the total revenue. Sources said removing the slab is most feasible. Here’s why

GoM may gradually phase out of 12% GST slab to rationalise rates, sources say

The removal of the 12% slab will consolidate goods and services into three GST rates: 5%, 18% and 28%

GoM decision on GST rate cut on life and health insurance deferred, next meet on Oct 19

During the October 19 meeting, the GoM will deliberate upon health insurance-related matters for senior citizens, life insurance, term life insurance, group insurance, etc.

GST Council likely to discuss cess, status of rate rationalisation on September 9: FM Sitharaman

In the September 9 meeting, the officers of the GoM (Group of Ministers) on rate rationalisation will give a status report

Exclusive: GoM on rate rationalisation not in favour of merger of GST slabs

The GST Council in its meeting on September 9 will discuss the GoM report which will be submitted soon.

Ministers to discuss ways to curb money laundering in online gaming before general elections: Sources

The agenda of the first meeting of the ministers has been set in view of the recent Mahadev online gaming app embroiled in a money laundering controversy.

GST Council to discuss measures to curb evasion, GoM report on online gaming in July 11 meet

The 50th meeting of the GST Council is scheduled on July 11.

GST Council to meet before mid-November; GoM reports on appellate tribunal, tax casinos on agenda

In addition, the status on the much awaited full report of the committee tasked with rationalisation of GST rates may also come up for discussion at the 48th Council meeting in Madurai.