GST Council Expected to Hold Meeting Soon to Discuss Rate Rationalisation:

GST Council Expected to Hold Meeting Soon to Discuss Rate Rationalisation The Goods and Services (GST) Council is likely to meet soon to discuss simplifying and adjusting tax rates, as well as the future of the compensation cess, as per a senior government official. Usually, the GST council meets once every quarter. But in the last meeting held in December, they did not discuss about the issue of rate rationalisation. The government official said the GST Council will soon meet to focus on three or four aspects to make the tax system easier. Issues related to compensation cess, rate rationalization, and simplification will be discussed by the council. Before scheduling the meeting, a three-week notice must be given. The official added that a decision on the next meeting will be made shortly. The Union Budget in February and increasing tensions between India and Pakistan had caused delays in calling the meeting earlier. Two panels of ministers had given recommendations to reduce GST rates and give exemptions for some categories but they have not submitted their final reports yet. Another panel, headed by junior finance minister Pankaj Chaudhary, is looking into whether the compensation cess should continue after March 2026.