The two-day conference will take place in New Delhi, according to an official note from the GST Council Secretariat.
The significant GST Council will meet from September 3–4 to discuss introducing a two-slab tax structure, with Finance Minister Nirmala Sitharaman serving as its president.
The two-day conference will take place in New Delhi, according to an official note from the GST Council Secretariat.
The council will hear suggestions from the three GoMs on compensation cess, health and life insurance, and rate reduction in addition to the Center.
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At their meeting earlier this week, the state ministers who make up the Group of Ministers (GoM) agreed, in general, on the Center’s plan for a two-slab GST.
As to the Center’s proposed revision of the GoMs, the products and Services Tax (GST) need to have two rates of 5 and 18 percent, which would categorize products and services as “standard” and “merit.” Ultra-luxury autos and sin products are among the few commodities that will be subject to a special rate of 40%.
Four levels of GST:
5
12
18
28