GST GoM likely to discuss food, textile, footwear rates in October 20 meeting
The group of ministers (GoM) tasked with simplifying the goods and services tax (GST) structure will meet on October 20 to deliberate on rate rationalisation proposals related to food, footwear and textile items, a source told Moneycontrol. The items under review are in the 12 percent tax bracket.
Led by Bihar deputy chief minister Samrat Chaudhary, the GoM on GST rate rationalisation has been tasked with simplifying the tax structure, now in its eighth year since the introduction of the indirect tax regime. Rationalisation is expected to ease the compliance burden and also boost collections, experts say.
“The GST GoM on rate rationalisation will submit some rate suggestions in a report for the next GST Council meeting likely to be held in November,” the source said.
Rate rationalisation proposals on about a hundred items are likely to be discussed by the GST GoM. “The GoM will initially look at food items, footwear and textiles, which concern the common man and impact daily life,” the source said.
