GoM may suggest pruning GST exemption list ahead of Council meeting

A meeting of the GST Council is expected this month or early next month. It may discuss the inverted duty structure, too

An empowered group of ministers (GoM) — set up to look into rate rationalisation — may propose pruning Goods and Services Tax (GST) exemptions on certain goods and services and correcting the inverted duty structure during the next GST Council meeting.

The ministerial panel, which is likely to meet ahead of the Council meeting, may defer its rate rejig agenda until easing of inflationary pressure.

“The Council, which is expected to meet this month or early next month, will take up GoM recommendations on exempt goods and removing anomalies from taxing raw material higher than finished goods,” a senior government official said.

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