The Central Board of Indirect Taxes & Customs (CBIC) has said that media reports regarding the Group of Ministers (GoM) recommendations on GST rate changes regarding various goods and services are premature and speculative.

In a social media post, the CBIC said a Group of Ministers was constituted to look into the GST rate rationalisation apart from certain other issues referred by the GST Council.

The GoM comprises of ministers from the States of Bihar, Uttar Pradesh, Rajasthan, West Bengal, Karnataka and Kerala with the Deputy Chief Minister of Bihar as the Convenor.

The GST Council is chaired by Finance Minister Nirmala Sitharaman and ministers of all the states and Union Territories. This council is empowered to recommend GST rates including changes to them.

The GoM is only a recommendatory body.

The GST Council has not yet deliberated on any GST rate changes. The Council has not even received the recommendations of the GoM and they group is yet to finalise and present its recommendations. After the recommendations are received, the Council will take a final view, said the statement on social media.

Sitharaman also posted a social media post on X saying the finance ministers from various states are working to address GST rate change.

“Important and timely. Thanks @cbic. Finance Ministers from various states in the GoM are working to address GST rate changes. Thereafter, the GST Council, consisting of all state FMs will take up their recommendations, when they next meet. Speculation is better avoided,” said Sitharaman in a post on X.

Source: The Economic Times