Sitharaman to attend GoM meeting on Aug 20, explain next-gen GST reforms
GST
Dated:- 18-8-2025
PTI
New Delhi, Aug 18 (PTI) Finance Minister Nirmala Sitharaman will attend a crucial meeting of a state ministerial panel on August 20 to put forth the Centre's proposal for sweeping GST reforms that will slash tax rates and lead to reduction in prices of common use items.
The two-day meeting of the Group of Ministers (GoM) on GST rate rationalisation is scheduled on August 20-21 here, sources said.
The meet will deliberate on the Centre's proposal for GST reforms of reducing the number of tax slabs in Goods and Services Tax (GST) to two 5 and 18 per cent, and a 40 per cent special rate on a select few items.
Sources said apart
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nce premiums were being worked out by a GoM to give relief to the common man.
The GST Council had earlier set up three separate GoMs on the three issues.
While Bihar Deputy Chief Minister Samrat Choudhary is the convenor of the GoM on rate rationalisation and health and life insurance, Minister of State for Finance Pankaj Chaudhary is the convenor of the GoM on compensation cess.
The Centre has proposed two-slab structure of 5 and 18 per cent classifying items under the category of 'merit' and 'standard' and the broad principle followed in the classification is to reduce tax burden for middle class, MSMEs, and the farm sector.
The proposed 40 per cent slab, the highest permissible tax rate under the GST law, will be only for 5-7 ite
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