GST rate change reports speculative, says regulator

The Central Board of Indirect Taxes and Customs has said reports regarding the Group of Ministers (GoM) recommendations on GST rate changes are premature and speculative. In a statement, it said, “A GoM was constituted to look into the GST...

Tribune News Service

Chandigarh, Updated At : 05:39 AM Dec 04, 2024 IST

The Central Board of Indirect Taxes and Customs has said reports regarding the Group of Ministers (GoM) recommendations on GST rate changes are premature and speculative.

In a statement, it said, “A GoM was constituted to look into the GST rate rationalisation, apart from certain other issues referred by the GST Council... It is the GST Council that is empowered to recommend GST rates, including changes. The GoM is only a recommendatory body.”