Quick Summary
The Group of Ministers (GoM) on GST rate rationalisation, which convened in Goa on Wednesday, reviewed GST rates for over 100 items, including textiles, handloom goods, agricultural products, fertilisers, and educational materials. However, no consensus was reached, and discussions will continue nex
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FAQ :
The Group of Ministers (GoM) reviewed GST rates for over 100 items but failed to reach a consensus on rate rationalisation.
The GoM reviewed GST rates for over 100 items, including textiles, handloom goods, agricultural products, fertilisers, and educational materials.
It was proposed to maintain the 5% GST on ready-made garments priced below ₹1,000 and increase the rate from 12% to 18% for garments above ₹1,000.
Discussions will continue next month in Delhi.
The 55th GST Council meeting in November will address rate rationalisation and potential GST exemptions on life and health insurance premiums.
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