Ahead of the GST Council meeting scheduled for September 9, a Group of Ministers (GoM) focused on GST rate rationalisation is set to meet on Thursday, according to officials. This will mark the first gathering of this prominent panel, which includes ministers from seven states, with Bihar Deputy Chief Minister Samrat Chaudhary leading the discussions.

The GoM's lineup features West Bengal Finance Minister Chandrima Bhattacharya, Karnataka Revenue Minister Krishna Byre Gowda, Kerala Finance Minister K N Balagopal, Uttar Pradesh Finance Minister Suresh Kumar Khanna, Goa Transport Minister Mauvin Godinho, and Rajasthan Medical and Health Services Minister Gajendra Singh.

"The GoM will review the progress made and decide on the next steps," an official stated.

During its previous meeting in June, the GST Council had instructed the GoM to provide a comprehensive overview or a draft report on GST rate rationalisation. This report will cover the current status, work completed, and pending tasks.

In the upcoming 54th GST Council meeting on September 9, the panel will present its recommendations on rate rationalisation.

The GoM’s mandate includes suggesting necessary adjustments to GST rates, addressing issues with the inverted duty structure, simplifying the tax rate system, revising the GST exemption list, and boosting GST revenues.

Established in September 2021 under former Karnataka Chief Minister Basavaraj Bommai, the GoM previously submitted an interim report to the GST Council in June 2022. This report proposed changes to tax rates for various goods and services and adjustments to the inverted duty structure.

Currently, the GST system includes five tax slabs: zero, 5%, 12%, 18%, and 28%, with an additional cess on luxury and demerit goods above the 28% rate.

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