Ministers' Panel Likely To Suggest Withdrawal Of Exemptions To Select RBI Services

Ministers’ panel on rate rationalisation has made some important recommendations

The Group of Ministers (GoM) on Good and Services Tax (GST) rate rationalisation is likely to recommend withdrawal of exemptions currently granted to some RBI services, to the GST Council.

The panel headed by Karnataka Chief Minister Basavaraj Bommai, which met earlier today, is also likely to recommend withdrawal of exemptions given to hospitals where room rates are more than Rs 5,000 per day.

Also, the panel is likely to suggest to the GST  Council, withdrawal of exemptions given to some North-east India airports.

The GST Council, which is headed by Finance Minister Nirmala Sitharaman is expected to meet on June 28-29 in Srinagar.

“GoM will submit an interim report on GST rate rationalisation before the next GST Council meeting in Srinagar on June 28-29,” Mr Bommai said after the meeting.

According to sources, the GoM did not reach any decision on merger of GST rate slabs or change in GST rates, though there are chances of another meeting taking place soon to reach a consensus.

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