New Delhi: To speed up the economy, the government is considering a change in GST rates to increase GST revenue. For this, the government constituted a committee of officers to review the rates of GST. Now this committee has presented some of its recommendations to the central government. The Central Government will consider these recommendations and place them before the GST Council. After this, the GST Council will decide whether to implement these recommendations or not.
It has also been reported that the recommendations of the Committee of Officers can be implemented from April 2020. The government formed this committee in October. Items which are in the tax range of 5 and 12 percent can be brought in higher slabs. Apart from this, the rate of GST on valuable metals like gold, silver should be increased from 3 percent to 5 percent.
In addition, the Committee of Officers recommended that education and health should also be included in the higher tax slab. Special luxury items should have special high rates. If the GST Council accepts the recommendations of the Committee of Officers, then gold and silver will become expensive in the coming financial year, along with education and health facilities will also become expensive.
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