GST Council to review tax rates, exemptions
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New Delhi, Dec. 3 -- Federal indirect tax body, the Goods and Services Tax (GST) Council, will meet later this month to discuss various revenue raising measures including changes to GST rates and cess levied on select goods.
The council meeting which is expected in the second half of December will be its first meeting ever in which tax rate increases will be considered seriously. At the last meeting of the council in September in Goa, there was a token increase in the tax rate on one product, signaling that the era of GST rate reductions was over. The move to review tax rates, exemptions and the cess comes amid a shortfall in revenue receipts of the union and the state governments and the latter accusing the Centre of delays in giving th...
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