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Fitment panel discusses GST rate rationalisation

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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.

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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.

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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.

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