Brief by Shorts91 Newsdesk / 02:26pm on 21 Aug 2025,Thursday India
The Group of Ministers (GoM) on GST rate rationalisation has endorsed the Centre’s bold plan to eliminate the 12% and 28% tax slabs, consolidating the structure into two main rates: 5% and 18%, with a 40% levy retained for luxury and sin goods. Bihar Deputy CM Samrat Choudhary confirmed widespread state support, though some ministers flagged potential revenue implications, urging clarity over compensation. The proposal now advances to the upcoming GST Council for final approval, marking a critical stride in modernising India’s indirect tax framework. (PC: X)
