GST Council likely to fix inverted duty structure; taxpayer friendly moves await
The 54th Goods and Service Tax (GST) Council Meeting will be held on 9th September, 2024 at New Delhi.
Last GST Council Meeting was held on June 23, where the Union Finance Minister Nirmala Sitharaman announced that the next meeting would undertake the agendas related to rate rationalisation.
Shivam Mehta, Executive Partner at Lakshmikumaran & Sridharan Attorneys said, "The discussions on rate rationalisation are imminent in the upcoming council meeting, as hinted by the Hon’ble Finance Minister and CBIC Chairman. The talks about merging of the tax slabs or creation of new slabs have been in air for quite a while."
The GST Council constituted a Group of Ministers (GoM) under Bihar Deputy Chief Minister which will be presenting the status of the work and aspects covered by the panel and work pending before the panel in the upcoming GST Council Meeting.
