GST Council needs to reconstitute 3 GoMs as new ministers from 11 states join
The previous meeting, the 52nd GST Council session, was held on October 7, 2023. The inclusion of these new ministers necessitates the reorganization of three GoMs focused on GST revenue analysis, enhancing the real estate sector under GST, and GST system reforms.
The Goods and Services Tax (GST) Council is required to reconstitute three critical Groups of Ministers (GoMs) following the induction of new ministers from 11 states on Saturday. Finance Minister Nirmala Sitharaman announced during the 53rd GST Council meeting that new representatives from Andhra Pradesh, Bihar, Chhattisgarh, Haryana, Madhya Pradesh, Mizoram, Odisha, Rajasthan, Sikkim, Telangana, and Tripura have joined the council.
The previous meeting, the 52nd GST Council session, was held on October 7, 2023. The inclusion of these new ministers necessitates the reorganization of three GoMs focused on GST revenue analysis, enhancing the real estate sector under GST, and GST system reforms.
While the GoM on GST rate rationalization was reconstituted in February, appointing Bihar Deputy Chief Minister Samrat Chaudhary as its convenor, the reconstitution of the other three GoMs is still pending.
The GoM on GST revenue analysis will now include the new finance minister from Odisha, following the BJP's recent electoral victory and government formation in the state. Additionally, the new finance minister from Haryana will be added to this panel.
The GoM aimed at boosting the real estate sector, led by Maharashtra Deputy Chief Minister Ajit Pawar, will be restructured due to the change in Bihar's finance minister.
The panel on GST system reforms, also chaired by Ajit Pawar, will incorporate five new ministers from Assam, Andhra Pradesh, Haryana, Chhattisgarh, and Odisha.
These reconstitutions are crucial to ensure the GST Council continues to effectively address and manage GST-related issues with the newly appointed representatives.
Union Finance Minister Nirmala Sitharaman on Saturday morning chaired a pre-budget meeting with Finance Ministers of all States and Union Territories.
The Pre-Budget Meeting was organised by the Ministry of Finance and Corporate Affairs with Finance Ministers of all the States and Union Territories (with Legislature) to take suggestions for the upcoming Union Budget 2024-25.
Ministers of State along with other stakeholders are participating in the meeting and visuals showed Uttar Pradesh Finance Minister Suresh Kumar Khanna, and Finance Minister of Rajasthan Diya Kumari at the Bharat Mandapam venue before the meeting commenced this morning.
(With inputs from agencies.)
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