The GST Council is expected to be presented with a status report on rate rationalisation by the Group of Ministers (GoM) during its upcoming meeting on September 9. And as per details from sources, the GoM is likely to inform the GST Council that discussions on GST rates, slabs, merging of slabs, and simplifying the rate structure need to be restarted.

The correction of the inverted duty structure is also set to be a critical point in the GoM’s report, the sources told CNBC-TV18.

The newly re-constituted GoM will, according to sources, consist of six states: Bihar, Karnataka, Uttar Pradesh, Rajasthan, West Bengal, and Kerala. Previously, Goa was also part of the panel.

The GoM is expected to inform the GST Council that the panel is slated to meet again on September 25 to take forward the discussions on rate rationalisation. The GoM is also likely to request additional time to submit a final report, as the current discussions remain ongoing.

In the status report, the GoM is likely to highlight a fresh review of the interim report that was submitted during the 47th GST Council meeting in June 2021. This earlier report recommended addressing issues related to the inverted duty structure and reviewing tax exemptions.

The GoM is also expected to seek a closer review of the revised terms of reference, which include a detailed examination of key sectors like textiles, handlooms, fertilisers, silk and silk weaving, among others.

Source: CNBC TV 18