Rate Rejig Talks
The GST Council is gearing up for a major discussion on tax rate adjustments. The primary focus will be on how to optimize the GST framework. This includes
considering potential changes that affect various sectors, and the meeting will be attended by state representatives.
States' Concerns
A crucial aspect of the upcoming meeting will be the concerns raised by several states regarding revenue losses. They are pushing for measures to ensure adequate funds. The impact of these discussions will be pivotal in shaping the future of GST implementation across India.
EV Tax Focus
A key area of deliberation will be the tax on electric vehicles (EVs). The council will evaluate the current 5% EV tax and discuss potential revisions. This could have a significant impact on the adoption of EVs in the country and the overall market.
SBI Research Support
SBI Research backs rationalization efforts. The financial institution's perspective on potential gains from rationalization will be presented. It will shed light on how the suggested reforms could improve efficiency. The council will consider various perspectives.
