The Goods and Services Tax Council is unlikely to take a call on rate rationalisation in the next meeting amid inflationary pressures and the persisting geopolitical tensions across the Black Sea, according to a senior official in the Finance Ministry.
The GST Council has been mulling rationalising rates since 2020. A Group of Ministers headed by Karnataka Chief Minister Basavaraj Bommai was set up in September 2021.
The GoM has met twice but no report has been handed to the finance minister, the official cited earlier said on the condition of anonymity. In 2020, the pandemic struck and 2021 was not the best time and now there's a war in Ukraine, and inflationary pressures, the official said.
The GST Council is due to meet after June 10, the official said.
The council is expected to deliberate on the GoM report on gaming and betting, and the end of the compensation to states in the next meeting before the monsoon session of the parliament.
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