Quick Summary
The GST Council is scheduled to meet on September 9 to explore the rationalization of GST rates. According to Finance Minister Nirmala Sitharaman, while the meeting will review the current rate structure, no decisions on rate changes will be made at this time. The results will be referred to the Group of Ministers (GoM) for further review. A team of officers will present a detailed overview of existing GST rates during the September session, serving as a basis for the GoM's further deliberation
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FAQ :
The GST Council is scheduled to meet on September 9th.
No, Finance Minister Nirmala Sitharaman has stated that no final decisions on rate changes will be made at this time. The results will be referred to the Group of Ministers (GoM) for further review.
A team of officers will present a detailed overview of existing GST rates, which will serve as a basis for the Group of Ministers' (GoM) deliberations.
The GST system has five main tax slabs: 0%, 5%, 12%, 18%, and 28%, along with a compensation cess for luxury and demerit items.
The compensation cess levy is set to continue until March 2026 to cover state compensation loans, though some states have suggested reassessing this timeline.
The newly formed GoM on rate rationalisation has shown a tendency to retain the existing GST slabs.
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