Quick Summary
The Group of Ministers (GoM) tasked with Goods and Services Tax (GST) rate rationalisation has presented proposals that have elicited a mixed response from states, with many expressing concerns about the timing and economic implications of the changes. Concerns Over Economic Timing Sources reveal that several non-GoM member states are apprehensive about the proposed GST rate adjustments, citing the current economic conditions as a barrier. They argue that implementing rate changes without a su
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN - Rs.1999
1799
(Excl. of GST ₹323)
2 Years PLAN - Rs.3499
3149
(Excl. of GST ₹566)
BEST VALUE
3 Years PLAN - Rs.4999
4499
(Excl. of GST ₹809)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The 55th GST Council meeting is scheduled to take place on December 21, 2024, in Jaisalmer.
Several states are concerned about the timing and economic implications of proposed GST rate changes, arguing that reforms should be delayed until the economic environment is more favourable.
Yes, there appears to be a consensus among states to rationalise GST rates on life and health insurance premiums.
The meeting is expected to be a platform for deliberating the GoM's detailed report on rate rationalisation and findings on insurance premiums, potentially shaping the future of the GST framework.
They are apprehensive due to current economic conditions, fearing that implementing rate changes without a significant rise in consumption could negatively affect businesses and taxpayers.
CAclubindia
