The Central Board of Indirect Taxes and Customs ( CBIC ) has dismissed recent media reports suggesting a hike in GST rates based on recommendations from the Group of Ministers (GoM). The CBIC clarified that such reports are speculative and lack factual basis, as the GST Council has not yet deliberated on any proposed changes to GST rates.
The GoM, comprising Ministers from Bihar, Uttar Pradesh, Rajasthan, West Bengal, Karnataka, and Kerala, with Bihar’s Deputy Chief Minister as the Convenor, was established to examine GST rate rationalization and address other issues referred by the GST Council.
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However, the GoM serves only as a recommendatory body, with the authority to finalize GST rates vested solely in the GST Council, chaired by the Union Finance Minister and including Ministers from all States and Union Territories.
“The GST Council has not yet deliberated on any GST rate changes. The Council has not even received the recommendations of the GoM. In fact the GoM has yet to finalise and present its recommendations to the Council after which the Council will take a final view on the recommendations of the GoM”, added the CBIC its official statement.
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The board through its official platform in ‘X’ stated that “The reports in the media are thus premature and speculative.”
However, this clarification was taken negatively by the people. According to them, the insider might have leaked the same.
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