{"id":5927,"date":"2025-08-17T19:14:26","date_gmt":"2025-08-17T19:14:26","guid":{"rendered":"https:\/\/tezgyan.com\/index.php\/2025\/08\/17\/state-finance-minister-panels-to-discuss-gst-rationalisation-at-meeting-on-august-20-21-business-news\/"},"modified":"2025-08-17T19:14:26","modified_gmt":"2025-08-17T19:14:26","slug":"state-finance-minister-panels-to-discuss-gst-rationalisation-at-meeting-on-august-20-21-business-news","status":"publish","type":"post","link":"https:\/\/tezgyan.com\/index.php\/2025\/08\/17\/state-finance-minister-panels-to-discuss-gst-rationalisation-at-meeting-on-august-20-21-business-news\/","title":{"rendered":"State Finance Minister Panels To Discuss GST Rationalisation At Meeting On August 20-21 | Business News"},"content":{"rendered":"


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PM Narendra Modi said the revised GST framework proposed by the Centre has been circulated among states. He sought their cooperation to implement the proposal before Diwali<\/h2>\n
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PM Narendra Modi had announced the proposal to reform the GST law during his Independence Day speech on August 15 from the ramparts of the Red Fort. (Image for representation: News18)<\/p>\n<\/figure>\n

The three panels of state finance ministers will meet on August 20 and 21 to review the draft of the next-generation GST reforms, including proposals to rationalise the tax structure.<\/span><\/p>\n

The panels, called the Groups of Ministers (GoM), have been set up by the Goods and Services Tax (GST) Council to look into rate rationalisation, insurance, and compensation cess.\u00a0\u00a0<\/span><\/p>\n

Prime Minister Narendra Modi on Sunday said the revised GST framework proposed by the Centre has been circulated among states. He sought their cooperation to implement the proposal before Diwali.<\/span><\/p>\n

According to a report by Money Control<\/i>, the recommendations of the three GoMs will be taken to the GST Council, which is expected to meet next month to deliberate on the tax reform proposal.<\/span><\/p>\n

WHAT DOES THE REVISED GST FRAMEWORK PROPOSE?<\/h4>\n

Modi had announced the proposal to reform the GST law during his Independence Day speech on August 15 from the ramparts of the Red Fort.<\/span><\/p>\n

The present GST tax rates of nil\/zero on essential food items, 5 percent on daily use products, 12 percent on standard goods, 18 percent on electronics and services and 28 percent on luxury and sin goods will be replaced by two tax slabs of 5 percent and 18 percent plus a special 40 percent top bracket for five to seven demerit goods.<\/span><\/p>\n

Here\u2019s what the proposed two-slab regime looks like:<\/span><\/em><\/p>\n