GST council meet: Panel of 7 finance ministers to decide on calamity tax

Centre vows to help states reduce revenue shortfall to near-zero in five years

The GST Council on Friday set up a seven-member group of ministers (GoM) to examine ways to mobilise revenue for relief works after natural calamities.

The GoM will decide whether it should be a pan-Indian levy, and if it should be confined to luxury or sin products. It will also deliberate upon what kind of natural calamities should be considered. 

While Bihar deputy chief minister Sushil Modi was named convenor of the GoM, Kerala finance minister Thomas Isaac, who spearheaded the need for such a tax/cess, is a member.