Breaking: GST Council Meeting to be held in Chandigarh on 28-29 June 2022 instead of Srinagar

GST Council via its official Twitter handle has announced that the 47th meeting of the GST Council will be held on 28-29 June 2022 (Tuesday and Wednesday) at Chandigarh instead of Srinagar.

The council meeting is significant because it will likely examine the findings of the panel of state ministers on rate rationalization, as well as the GST rate on casinos, racetracks, and online gaming.

There are other proposals related to the correction of Inverted Duty Structure on Textiles, Pruning list of GST Exemptions, etc. as well on charts.

GST Rate to be enhanced to 7%/8% from current 5% and 20% from current 18%?

This meeting is also important because the GST compensation cess arrangement with the states is also slated to end this year.