{"id":72341,"date":"2025-08-18T14:31:03","date_gmt":"2025-08-18T09:01:03","guid":{"rendered":""},"modified":"2025-08-18T14:31:03","modified_gmt":"2025-08-18T09:01:03","slug":"gst-rate-rejig-sitharaman-to-address-aug-20-gom-meet-to-put-forth-centre-39-s-rate-cut-proposal","status":"publish","type":"post","link":"https:\/\/goodsandservicetax.in\/GST\/?p=72341","title":{"rendered":"GST rate rejig: Sitharaman to address Aug 20 GoM meet to put forth Centre&#39;s rate cut proposal"},"content":{"rendered":"<p>GST rate rejig: Sitharaman to address Aug 20 GoM meet to put forth Centre&#39;s rate cut proposal<BR>GST<BR>Dated:- 18-8-2025<BR>PTI<BR>New Delhi, Aug 18 (PTI) Finance Minister Nirmala Sitharaman will on Wednesday address a crucial meeting of a group of ministers of states as she makes a case for the sweeping GST reforms that will slash tax rates and lead to reduction in prices of common use items.<br \/>\n The Centre has proposed a 2-tier GST structure of 5 and 18 per cent, besides a 40 per cent special rate on a select few items to the GoM on GST rate rationalisation.<br \/>\n The proposal, which entails removing the current 12 and 28 per cent tax slabs, will be discussed at the 2-day meeting of the state ministerial panel on August 20 and 21 here in the n<\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n<p align=\"center\"><strong>Plain text (Extract) only<\/strong><BR>For full text:-<a href=\"https:\/\/www.taxtmi.com\/news?id=52766\">Visit the Source <\/a><\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n<p>ying items under the category of &#39;merit&#39; and &#39;standard&#39; and the broad principle followed in the classification is to reduce tax burden for middle class, MSMEs, and the farm sector.<br \/>\n The proposed 40 per cent slab, the highest permissible tax rate under the GST law, will be only for about 5-7 items, including demerit goods like pan masala, tobacco and online gaming.<br \/>\n Goods and Services Tax (GST) is currently levied at 5, 12, 18 and 28 per cent. While food and essential items are either at nil or 5 per cent, luxury and demerit goods are in 28 per cent slab, with a cess on top of it.<br \/>\n If the Centre&#39;s proposal is accepted by the GoM, it would be placed before the GST Council, chaired by Sitharaman and comprising finance ministers from all sta<\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n<p align=\"center\"><strong>Plain text (Extract) only<\/strong><BR>For full text:-<a href=\"https:\/\/www.taxtmi.com\/news?id=52766\">Visit the Source <\/a><\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GST rate rejig: Sitharaman to address Aug 20 GoM meet to put forth Centre&#8217;s rate cut proposalGSTDated:- 18-8-2025PTINew Delhi, Aug 18 (PTI) Finance Minister Nirmala Sitharaman will on Wednesday address a crucial meeting of a group of ministers of states a<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-72341","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/72341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=72341"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/72341\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=72341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=72341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=72341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}