FM Sitharaman to attend GoM meeting on August 20, explain next-gen GST reforms

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.

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NEW DELHI:

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 from the rate rationalisation panel, the two-day meeting would be attended by members from GoMs on compensation cess and also health and life insurance.