The panel is tasked with reviewing the Centre’s proposal to move 99 per cent of goods currently taxed at 12% to the 5% slab and 90 per cent of goods and services in the 28% slab to the 18% bracket.

The GoM on GST rate rationalisation has accepted the Centre’s proposal to collapse 12% and 28% slabs into a two-slab structure of 5% and 18%, with 40% on luxury and sin goods.

Bihar Deputy Chief Minister Samrat Choudhary, who is the convenor of the GoM on rate rationalization, said the GoM has ...

At present, Goods and Services Tax is a 4-tier structure of 5, 12, 18 and 28 per cent.

Led by Bihar Deputy Chief Minister Samrat Choudhary, the six-member GoM agreed to streamline the present four-tier GST system into a simpler two-tier model — 5 per cent for merit goods and services ...

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The Group of Ministers (GoM) on GST rate rationalisation on Thursday endorsed the Centre’s proposal to shift to a two-slab ...

Finance Minister Nirmala Sitharaman said on Wednesday that changes in the GST structure will bring relief to common people, farmers, the middle class, and small businesses (MSMEs). Under this reform, ...

Group of Ministers (GoM) has extended its support to the Centre’s proposals to eliminate the 12 per cent and 28 per cent slabs under the Goods and Services Tax (GST) structure, said Bihar Deputy Chief ...

According to the plan, 99% of items taxed at 12% will shift to the lower 5% slab, while nearly 90% of items currently in the ...

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Meeting of the GoM on GST rate rationalisation on Thursday saw states endorsing the Centre’s proposal to streamline the indirect tax system ...