The Goods and Services Tax Council will have to appoint a new chairperson for the key group of ministers (GoM) on rate rationalisation following the Karnataka state elections. Former Karnataka chief minister Basavaraj S Bommai, who resigned following the BJP’s rout in the assembly elections, was the convenor of the GoM on GST rate rationalisation.
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The GoM was set up in September 2021 to review the rate structure of the indirect tax levy including the correction of inverted duty structure with the objective to simplify rates, reduce classification related disputes and enhance revenue.
Read more at : FINANCIAL EXPRESS
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