New Delhi, Dec 31: The 46th GST Council meeting is underway and some key decisions are likely to be taken by the members.
Rate rationalisation seems to be one of the key agendas of the meetingĀ and the Group of Ministers (GoM). Finance Minister Nirmala Sitharaman will hold a press conference at 3 pm to announce the decisions taken at the GST Council meeting.
DICUSSION ON HIGHER GST ON TEXTILES, FOOTWEAR
The higher GST on footwear and textiles will be a key agenda of todayās GST Council meeting. State representatives are likely to oppose higher GST on such items.
It may be noted that the GST on footwear, except those below Rs 1,000, was hiked to 12 per cent from 5 per cent. All readymade textile items, except those made with cotton, were also hiked to 12 per cent.
However, the hiked GST rates have not gone down well with trade bodies and state governments. There are chances that state representatives will oppose the GST hikes on these items at the meeting. There are chances that the GST hike on footwear and textiles will be deferred as a result.
