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December 4, 2024 5:50 AM

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CBIC rejects media reports on GoM’s GST rate recommendations as speculative

The Central Board of Indirect Taxes and Customs (CBIC) has rejected media reports regarding the Group of Ministers (GoM) recommendations on GST rate changes on various goods and services saying that such reports are premature and speculative. The CBIC said that the GST council has not received any recommendations from the Group of Ministers and no GST rate changes have been deliberated.

 

It added that the GST Council is chaired by the Finance Minister and Ministers of all the States and Union Territories that can recommend GST rates and changes. At the same time, GoM is only a recommendatory body.

 

The GoM comprises Ministers from Bihar, Uttar Pradesh, Rajasthan, West Bengal, Karnataka and Kerala with the Chief Minister of Bihar as the Convenor.