The GST Council, headed by Finance Minister Nirmala Sitharaman, will meet on June 28 and 29 in Srinagar. Finance Minister Sitharaman's office tweeted on Thursday that the 47th meeting of the GST Council will be held on June 28-29. This is the second time that the meeting of the GST Council is being held in Srinagar. The 14th meeting of the council was held in the city on May 18 and 19, before the implementation of Goods and Services (GST) on July 1, 2017. In this two-day meeting, rates for 1,211 products were approved.
This meeting of the Council is considered important from the point of view that in it the report on the harmonization of rates of the Committee of Finance Ministers of the States will be discussed. Apart from this, the GST rates for casinos, horse racing, and online gaming will be considered in the meeting. Simplification of some procedures may also be considered in the meeting.
Sources said that the committee of ministers of states on harmonizing GST rates will consider possible changes in tax rates on June 17 before the meeting of the GST Council. Sources said the Group of Ministers (GoM) may discuss possible changes in tax slabs. The final report of this committee will take some more time to come.
The GST Council had last year constituted a committee of state ministers under the chairmanship of Karnataka Chief Minister Basavaraj Bommai. The committee is to suggest ways to increase tax revenue by harmonizing tax rates. The last meeting of the GoM was held in November 2021.
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