The Goods and Services Tax Council will need to reorganise three groups of ministers ( GoMs ) following the inclusion of new ministers from 11 states on Saturday.
During the 53rd GST Council meeting on Saturday, Finance Minister Nirmala Sitharaman announced the addition of 11 new ministers from Andhra Pradesh, Bihar, Chhattisgarh, Haryana, Madhya Pradesh, Mizoram, Odisha, Rajasthan, Sikkim, Telangana, and Tripura.
Read More: 53rd GST Council Meeting: Know the Decisions in Detail
The meeting was attended by key officials, including the Union Minister of State for Finance, Chief Ministers, Deputy Chief Ministers, Finance Ministers of various states and UTs, and senior officers of the Ministry of Finance.
Following the October 7, 2023, 52nd GST Council meeting, the reconstitution of three GoMs is now being planned: one on analysing revenue from GST, another on enhancing the real estate sector under GST, and the third on GST system reforms.
While the GoM on GST rate rationalisation was already reconstituted in February with Bihar Deputy Chief Minister Samrat Chaudhary as its convenor, notifications for reconstituting the other three GoMs are pending.
In the GoM for analysing GST revenue, the inclusion of Odisha’s new finance minister is pending, following the recent state assembly elections won by BJP. Additionally, the new finance minister from Haryana is also set to join this panel.
The GoM focused on boosting the real estate sector, previously chaired by Maharashtra Deputy Chief Minister Ajit Pawar, requires reconstitution due to changes in Bihar’s finance minister.
The 53rd GST Council meeting made comprehensive recommendations aimed at simplifying GST compliance, reducing litigation, and easing the tax burden on businesses. These measures, once implemented, are expected to provide significant relief to taxpayers and promote a more efficient GST regime.
The decisions cover a broad spectrum, from tax rate changes and exemptions to procedural relaxations and clarifications, reflecting the Council’s commitment to fostering a business-friendly environment.
Furthermore, the GoM on GST system reforms, originally convened by Pawar, needs reconstitution with the addition of five new ministers from Assam, Andhra Pradesh, Haryana, Chhattisgarh, and Odisha.
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