Fitment panel discusses GST rate rationalisation

The Fitment Committee, comprising officials from the Centre and state governments, held a crucial meeting on Tuesday at Sushma Swaraj Bhawan in New Delhi to deliberate on GST rate rationalisation proposals.

The meeting comes ahead of the 56th GST Council meeting, scheduled for Wednesday and Thursday in New Delhi, where significant reforms, including a potential overhaul of the GST slab structure, are expected to be finalised.

The committee, tasked with evaluating the revenue and compliance implications of rate changes, focused on streamlining the current four-tier GST structure of 5 per cent, 12 per cent, 18 per cent, and 28 per cent, along with special rates and cess on luxury and sin goods.