GoM approves streamlining GST rates to a simplified 5% and 18% two-slab structure, eliminating 12% & 28% slabs.

Led by Bihar Deputy Chief Minister Samrat Choudhary, the six-member GoM agreed to streamline the present four-tier GST system ...

A Group of Ministers (GoM) has accepted a proposal to streamline the GST rate structure, reducing it from four slabs to two.

The Group of Ministers on GST rate rationalisation concluded with states agreeing to restructure the indirect tax system. The ...

GST exemption for insurance for individuals is expected to result in an annual revenue loss of around Rs 9,700 crore, he ...

Explainer: What the GST Council's GoM on rate rationalisation is, how it works, who its members are, and how its decisions ...

Though the GoMs favoured the Centre’s slab rejig plan, which will benefit the common man, some members wanted ultra-luxury items, like high-end cars, to be subject to an additional levy on top of ...

The Group of Ministers (GoM) on Rate Rationalisation, formed by the Goods and Services Tax (GST) Council, has decided to accept the Centre’s two-rate structure proposal for GST and will be ...

According to the plan, 99% of items taxed at 12% will shift to the lower 5% slab, while nearly 90% of items currently in the ...

A crucial meeting of the GoM of state finance ministers on GST rate rationalisation began on Thursday as they started deliberation on the Centre's proposal to reduce tax slabs to 5 and 18 per cent.

The proposal was put forward by the GST Group of Ministers (GoM) on insurance, which recommended that the exemption would make coverage more affordable and boost penetration in India’s market.

The recommendation comes after the Central Government, on August 15, put forward a major GST reform plan focusing on mainly three areas - structural changes, rate simplification, and ease of living.