Bihar Deputy Chief Minister Samrat Chaudhary has been appointed as the convenor of the Group of Ministers (GoM) on GST rate rationalisation.
- Samrat Chaudhary will replace Finance Minister of Uttar Pradesh Suresh Khanna.
- The seven-member GoM has been tasked with suggesting required rate rationalisation and correction of inverted duty structure with an objective of simplifying the rate structure, reviewing the GST exemption list and enhancing revenues from Goods and Services Tax (GST).
- This is the second time that the GST rate rationalisation panel was reconstituted.
- The GoM was originally set up in September 2021, under then Karnataka Chief Minister Basavaraj Bommai.
- Currently, the GST regime has five broad tax slabs of zero, 5, 12, 18, and 28 per cent. A cess is levied over and above the highest 28 per cent rate on luxury and demerit goods.
