Group Of Ministers

The Group of Ministers (GoM) on GST rate rationalisation has recommended to raise GST on select sinful goods. Here's how GST Council decides on different tax bands

At present, the average GST rate is around 12.2 per cent, which is below the revenue-neutral rate of 15.3 per cent, spurring the need for discussions on rate rationalisation

The GoM on GST rate rationalisation on Saturday decided to lower tax rates on 20-litre packaged drinking water bottles, bicycles and exercise notebooks to 5 per cent, but suggested raising taxes on high-end wrist watches and shoes, an official said. The rate rejig decision taken by the GoM on GST rate rationalisation under Bihar Deputy Chief Minister Samrat Chaudhary would lead to a revenue gain of Rs 22,000 crore, the officials added. The GoM proposed reducing GST on packaged drinking water of 20 litres and above to 5 per cent from 18 per cent. If the GoM's recommendation is accepted by the GST Council, the GST on bicycles costing less than Rs 10,000 will be reduced to 5 per cent from 12 per cent. Also, GST on exercise notebooks will be reduced to 5 per cent from 12 per cent, the GoM proposed. The GoM also suggested hiking GST on shoes above Rs 15,000 a pair and on wrist watches above Rs 25,000 from 18 per cent to 28 per cent. The GoM on rate rationalisation in its previous meeti

Ahead of the GST Council meeting on September 9, the Group of Ministers (GoM) on GST rate rationalisation will meet here on Thursday, officials said. 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 other members of the panel are 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, 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 pend

Odisha Chief Minister Mohan Charan Majhi on Saturday allocated portfolios to his council of ministers, keeping home, finance and several other departments to himself, according to an order issued by the Raj Bhavan. Deputy Chief Minister KV Singh Deo was given the charge of Agriculture and Farmers' Empowerment and Energy departments. The other deputy chief minister Pravati Parida, a debutant MLA and the lone female in the 16-member council of ministers, has been assigned Women and Child Development, Mission Shakti and Tourism department. Majhi was sworn in as the state's first BJP chief minister here on Wednesday. The other departments which are also held by the chief minister are general administration and public grievances, information and public relations, water resources and planning and convergence. Veteran BJP leader Suresh Pujari was allocated Revenue and Disaster Management, while Rabi Narayan Naik, a farmer leader, was given Rural Development, Panchayati Raj & Drinking ...

Arunachal Pradesh Chief Minister Pema Khandu on Saturday distributed portfolios among his council of ministers, with his deputy Chowna Mein getting Finance and Mama Natung Home. The council of ministers was sworn in on Thursday. Deputy Chief Minister Chowna Mein will look after Finance, Planning and Investment departments besides, Tax & Excise, State Lotteries, Economics & Statistics, Power and Non-Conventional Energy Resources, an order issued by state Chief Secretary Dharmendra said. The important Home portfolio was allocated to Mama Natung, besides Inter-state Border Affairs, Public Health Engineering & Water Supply and Department of Indigenous Affairs. Khandu will look after all the departments not assigned to the deputy chief minister and other cabinet ministers. BJP state unit president Biyuram Wahge was allocated the Health & Family Welfare and Water Resources departments. Another fresh face in the cabinet, Nyato Dukam, got the Commerce and Industries, Labour ...

Four Indonesian Cabinet members testified Friday that no rules were violated in the distribution of government aid during the recent election campaign, despite claims by the two losing presidential candidates that it was used for the benefit of the election winner. Defense Minister Prabowo Subianto won the election with 58.6% of the votes, or more than 96 million ballots, more than twice the amount received by each of the two runner-ups in the three-way race, according to the General Election Commission. The losing candidates former Jakarta Gov. Anies Baswedan and former Central Java Gov. Ganjar Pranowo say the election was marred by irregularities and are asking the Constitutional Court to annul the results and order a revote in separate lawsuits. They say Subianto's victory was the result of widespread fraud and that outgoing President Joko Widodo and his administration bent laws and norms to support Subianto, with government social aid used as a tool to buy votes. Indonesian .

The GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, will meet on February 18. "The 49th meeting of the GST Council is scheduled to be held at New Delhi on February 18, 2023," the GST Council said in a tweet on Friday. The council may take up a discussion on the report of a group of ministers on taxation of 'pan masala' and 'gutka' firms and a report by a Group of Ministers (GoM) on setting up of appellate tribunals. The report by another GoM, chaired by Meghalaya Chief Minister Conrad Sangma, for GST levy on online gaming, casinos and horse racing may come up for deliberations. These three GoM reports were part of the agenda items in the last GST Council meeting, that was held on December 17, 2022.

The panel, headed by Meghalaya Chief Minister Conrad Sangma, submitted its second report to Finance Minister Nirmala Sitharaman ahead of the all-powerful GST Council meeting on Saturday

GoM submits recommendations on taxing pan masala, gutka on manufacturing capacity

Points out that under the regulations governing the all-powerful body, a meeting should be held every quarter

The law panel has informed the group of Ministers (GoM) that a clear definition will clear confusion and reduce scope for multiple litigations

The Council meeting was expected to be held in August in Madurai

Group of ministers to seek legal opinion for the move

The GST Council is likely to meet towards the end of this month or early September and discuss the report of the Group of Ministers (GoM), the sources added.

The Goods and Services Tax (GST) Council has set up a six-member group of ministers (GoM) to recommend necessary amendments required in the GST laws and other legal changes for setting up the GSTAT

Pre-packed wheat flour, papad, paneer, curd and buttermilk will be taxed at 5 per cent after the GST Council decided to stop allowing exemptions on such items while raising rates on a host of others.

Briefing reporters about deliberations at the two-day meeting of the GST Council, Finance Minister Nirmala Sitharaman said finance and other ministers of 16 states spoke on the compensation issue

The GST Council, comprising finance ministers of the Centre and states, is likely to meet by the end of this month and will discuss, among other things, the GoM interim report on rate rationalisation

Under the GST laws, hundreds of mass consumption items and essential services are exempted fully or attract a lower rate of tax than the standard rate of 18%