BTTV Exclusive: GST Rate Rationalisation Talks Underway, Three Tax Slab Proposal On The Table

Government officials are deliberating on rationalizing the Goods and Services Tax (GST) by considering a three-tier rate structure, with potential slabs of 8%, 16%, and 24%, or 9%, 18%, and 27%. Both options include provisions for essential goods and different rates for sin goods such as cigarettes and tobacco. Recommendations will go to the Group of Ministers (GoM) on rate rationalization, led by Samrat Chaudhary. The GoM, constituted on July 2, 2024, will meet ahead of the 54th GST Council meeting in August. Union Finance Minister Nirmala Sitharaman noted the substantial progress made by the GoM on this matter. Catch karishma Asoodani on Daily Calls show for a detailed report