Recent media reports speculating on changes to GST rates based on deliberations of the Group of Ministers (GoM) have been termed as premature and speculative. The GoM, established to examine GST rate rationalization and other related issues, comprises Ministers from Bihar, Uttar Pradesh, Rajasthan, West Bengal, Karnataka, and Kerala, with Bihar's Deputy Chief Minister serving as the Convenor.
The GST Council, chaired by the Union Finance Minister and comprising Ministers from all States and Union Territories, holds the exclusive authority to recommend GST rate changes. The GoM serves as an advisory body and has not yet finalized its recommendations.
Currently, the GST Council has neither received nor deliberated on any recommendations from the GoM. Until the GoM submits its report, and the Council discusses and makes decisions, any reports regarding GST rate changes remain speculative and without an official basis.
Stakeholders are advised to await official announcements from the GST Council for verified updates.
CBIC made this clarification via their official X Handle as follows
"There are various reports in the media regarding the Group of Ministers (GoM) recommendations on GST rate changes regarding various goods and services. The reports in public media on the basis of GoM deliberations are premature and speculative.
A Group of Ministers (GoM) was constituted to look into the GST rate rationalization apart from certain other issues referred by the GST Council. The GoM comprises of Hon'ble Ministers from the States of Bihar, Uttar Pradesh, Rajasthan, West Bengal, Karnataka and Kerala with the Hon'ble Deputy Chief Minister of Bihar as the Convenor.
It is the GST Council chaired by the Hon'ble Union Finance Minister and including Ministers of all the States/UTs, which is empowered to recommend GST rates including changes to them. The GoM is only a recommendatory body.
The GST Council has not yet deliberated on any GST rate changes. The Council has not even received the recommendations of the GoM. In fact the GoM has yet to finalise and present its recommendations to the Council after which the Council will take a final view on the recommendations of the GoM.
The reports in the media are thus premature and speculative."
There are various reports in the media regarding the Group of Ministers (GoM) recommendations on GST rate changes regarding various goods and services. The reports in public media on the basis of GoM deliberations are premature and speculative.
— CBIC (@cbic_india) December 3, 2024
A Group of Ministers (GoM) was…
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