: GoM meet to discuss GST rate on 27 Nov #finance #StockMarketNEWS GoM meet to discuss GST rate on 27 Nov New Delhi, 24 Nov (KNN) To deliberate on the agenda of GST rate rationalization, a panel of

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GoM meet to discuss GST rate on 27 Nov #finance #StockMarketNEWS
GoM meet to discuss GST rate on 27 Nov New Delhi, 24 Nov (KNN) To deliberate on the agenda of GST rate rationalization, a panel of state finance ministers will be meeting on 27th November, 2021.

The board has to finalise its report on rate changes to expand the tax base.

As published in Business Standard, the Fitment committee which consists of tax officers from state and centre levels have made major recommendations pertaining to slab and rate changes and taking items out of the exemption list.

It has also been reported that Fitment committee has proposed to raise 18 per cent GST slab to 20 per cent.

In this meeting all the recommendations will be discussed but all might not be accepted.

Karnataka Chief Minister Basavaraj Bommai will head the Group of Ministers (GoM) which will also include Kerala Finance Minister KN Balagopal, and Bihar Deputy Chief Minister Tarkishore Prasad.

It is likely that the report of the ministerial panel will be finalized in this meeting and would be presented before the GST Council during its meet next month.

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