Critical GST council Meeting

The upcoming GST Council meeting (date to be set out yet) outcome holds significant importance as it has the potential to redefine perceptions of the GST system. Currently, while Revenue Neutral Rate (RNR) is favoring India, there seems to be limited room for reducing the 18% slab. A pivotal concern is whether the compensation cess will be entirely eliminated and integrated into the tax structure without altering the total tax outflow. This potential shift, especially for goods like Coal, could prove advantageous for companies, offering a more favorable merged tax scenario compared to a separate cess. Delighted to share expectation snapshot by J the App by JustIDT