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GST rates could change to correct inverted duty, exemptions: Report

Group of ministers headed by Karnataka Chief Minister Basavaraj Bommai is working on the second round of GST rate changes, a news report said

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2 min read Last Updated : Aug 16 2022 | 2:19 PM IST

The Goods and Services Tax (GST) Council may make rate changes in some services or products and withdraw some exemptions in a bid to correct instances of inverted duty, The Economic Times reported on Tuesday.

A group of ministers (GoM) headed by Karnataka Chief Minister Basavaraj Bommai is working on the second round of GST rate changes, reported ET quoting sources.

"The inverted duty correction exercise has not concluded yet and there is more work left," a senior official told the newspaper. The official said that the GoM is working on the next list and a proposal for the same

Topics : Goods and Services Tax GST Council GST rates taxpayers tax exemption Karnataka

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