NEW DELHI: GST council is set to meet on December 31 to discuss largely rate rationalisation. The meeting will happen after the pre budget meeting with state finance minister which is scheduled on December 30.
Sources said that the council will discuss rate rationalisation after the group of ministers will submit their report on rate rationalisation. Apart from correction in duty inversion in certain goods, there are host of items which the panel has suggested to bring out of the exemption list.
Meanwhile, the GST Council is likely to hear the demands for merging the 12 per cent and 18 per cent slabs and steps to improve revenues. Also, there has been a demand for rolling back the proposed hike in textile from 5 per cent to 12 per cent.