GST rate rationalisation: GOM discusses tax cuts on some items

Issue of GST on health life insurance was also raised by some states in the GoM meet and referred to the fitment committee

The ministerial panel on GST rate rationalisation on Thursday broadly converged towards retaining a 4-tier slab structure and asked the committee of tax officers to analyse the implication of tinkering rates on some items and present it before the GST council.

The issue of GST on health and life insurance was also raised by some states in the meeting of the Group of Ministers (GoM) on rate rationalisation and referred to the fitment committee, comprising central and state tax officers, for further data analysis.

The suggestions of the GoM will be taken up on the September 9 meeting of the GST Council headed by Union Finance Minister Nirmala Sitharaman and comprising state counterparts.

Talking to reporters after the first meeting of the GoM under his convenorship, Bihar Deputy Chief Minister Samrat Chaudhary said, “Some GoM members are demanding that there should be no change in tax slabs under GST”.