GST Council chaired by Union finance minister Nirmala Sitharaman likely to discuss rationalisation of GST rate and the future of the GST Compensation Cess
The GST Council, chaired by Union Finance Minister Nirmala Sitharaman, will meet on September 9. The meeting is expected to begin discussion on rate rationalisation, reducing tax slabs, besides removing duty inversion under GST. It will be the first GST council meeting after the presentation of budget 2024-25.
"The 54th Meeting of GST Council will be held on 9th September, 2024 at New Delhi," the Council said in a post on X, formerly known as Twitter.
After the 53rd Council meeting on June 23, Sitharaman had said, "The next meeting of the GST Council the Group of Ministers (GoM) on rate rationalisation under Bihar Deputy Chief Minister Sumant Chaudhary, will give a presentation on the status of the work and aspects covered by the panel and work pending before the panel."
"There will be a presentation by the GoM irrespective of whether the report is draft... and then Council will start the discussion on rate rationalisation in the next meeting," Sitharaman had said.
In 53rd GST Council meeting, the council eased compliance for small businesses and excluded hostel accommodation below Rs 20,000 a month per person from GST.
The council also announced rollout of biometric-based Aadhar authentication. Additionally, to reduce financial burden of railway passengers, the council proposed to exempt GST on platform tickets.
To bring a uniform taxation of fuel in the country, the Council discussed to bring petrol and diesel under the GST regime.
The GST Council is a constitutional body that deals with indirect tax levied on the supply of goods and services in India. The council comprises of finance ministers of Centre and states, is the apex decision making body with regard to Goods and Services Tax (GST), which was rolled out on July 1, 2017.
With inputs from PTI