GoM, GST Rate Rationalisation to Meet on September

New Delhi: The group of ministers or GoM on goods and services tax (GST) rate rationalisation will meet here on September 9 and discuss the future course of action on the several GST issues in the country. This will be the first meeting of the high profile GoM comprising ministers of seven states with Bihar deputy chief minister Samrat Chaudhary as the convenor, the officials said on Thursday.

The other members of the panel are West Bengal finance minister Chandrima Bhattacharya, Karnataka revenue minister Krishna Byre Gowda, Kerala finance minister KN Balagopal, Uttar Pradesh finance minister Suresh Kumar Khanna, Goa transport minister Mauvin Godinho, Rajasthan medical, and health services minister Gajendra Singh. “The GoM will meet today to take stock of the progress and the future course of action,” an official said.

The GST Council, in its previous meeting in June, had tasked the GoM to give a broad overview of the work done or a draft report on GST rate rationalisation. It would include the status of the work and aspects covered by the panel so far and work pending before the panel.

The GoM has been tasked with suggesting the required rate rationalisation and correction of inverted duty structure with an objective of simplifying the rate structure, reviewing the GST exemption list and enhancing revenues from Goods and Services Tax (GST).

The GoM was originally set up in September 2021, under the then Karnataka chief minister Basavaraj Bommai. Under his chairmanship, the panel had submitted an interim report to the GST Council in June 2022, proposing changes in tax rates for some goods and services and correction in inverted duty structure.