The Group of Ministers (GoM) of the Goods and Services Tax Council that was tasked with rate rationalisation is likely to be reconstituted soon, with Karnataka Revenue Minister Krishna Byre Gowda set to become a member.
The position of convenor has been lying vacant since change of government in Karnataka. Former Karnataka chief minister Basavaraj Bommai was earlier the convenor of the seven-member committee. A decision on the convenor will be taken after the GoM is reconstituted.
However, a major overhaul of the GST rate structure is unlikely ahead of the general elections in 2024. “The GoM is being reconstituted. It is only after that that the process of rate rationalisation will be reviewed,” said a senior official.
Read more at : Business Today
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