Restructuring GST rates: Available options for the GST Council

In the 45th meeting of the GST Council held on September 17, 2021, the Council constituted a Group of Ministers (GoM) Committee to examine matters related to rationalisation of GST rates. The objective of the group is to simplify the rate structure of GST to reduce classification related disputes and enhance GST revenues. The specific objectives of the GoM on Rate Rationalization are the following…