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GoM on GST Rates May Submit Report by Feb

The group of ministers (GoM) on GST rate rationalization is likely to submits its final report by February, Karnataka chief minister Basavaraj Bommai, who heads it, said on Thursday.

The CM was replying to a debate on supplementary estimates worth Rs 3577 crore that was passed in the Karnataka assembly on Thursday.

“I have held two meetings of the GoM so far; there are Opposition states also, and I’m happy to say that I’ve been able to take everybody along-CPI, Congress, BJP and others. We’ve been successful in bringing everybody in the same platform, as every body works for public interest,” Bommai said.

He said he expects revenue to go up after the rates are rationalized.

At present, there are four slabs-5%, 12%, 18% and 28%-under the GST. Noting that he is in the middle of multiple challenges,    Bommai said, “There’s the post-Covid recovery that we need to focus on, then there’s the threat of a new wave, the GST compensation regime is ending and our expenditure is rising.

I’m in the middle of all this,” he said, adding that he wants to focus on solutions.

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