New GST Rates Likely By September 22: Sources
PM Narendra Modi announced on August 15 to bring “next-generation” GST reforms that will reduce the tax burden across the country.
New Delhi:
The Goods and Services Tax Council, chaired by Finance Minister Nirmala Sitharaman, is expected to roll out the new GST tax slabs by September 22, government sources have told NDTV Profit.
The implementation of the new GST rates is likely to coincide with the Navratri celebrations.
Prime Minister Narendra Modi announced on August 15 to bring “next-generation” GST reforms that will reduce the tax burden across the country.
“The government will bring next-generation GST reforms, which will bring down the tax burden on the common man. It will be a Diwali gift for you,” he said while addressing the nation on the 79th Independence Day.
The GST Council, comprising finance ministers of all states and UTs besides the Centre, will meet on September 3-4 in Delhi to discuss the proposed simplified two-tier GST tax slab of 5% and 18% suggested by the Centre.
The notifications will begin rolling out nearly five to seven days after the GST Council’s decision, sources said.
