GoM to rationalise GST rates was headed by .....

2023

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

GoM to rationalise GST rates was headed by ____

A	Basavaraj S. Bommai
B	Palanivel Thiagarajan
C	Nirmala Sitaraman
D	M.K. Stalin

Explanation:

Detailed explanation-1: -The council had last year set up a 7-member panel of state ministers, headed by Karnataka Chief Minister Basavaraj Bommai, to suggest ways to augment revenue by rationalising tax rates.

Detailed explanation-2: -What is the need for rate rationalization? The aim of rate rationalisation should be to simplify the GST rate structure and not to garner additional revenues for the government. One of the stated objectives of the GoM is to review current tax slabs and recommend changes which will lead to higher revenue.

Detailed explanation-3: -The Goods and Services Tax (GST) Council has set up a six-member group of ministers (GoM) to recommend necessary amendments required in the GST laws and other legal changes for setting up the GSTAT. Topics: GST | Goods and Services Tax | group of ministers. IANS | New Delhi | Last Updated at July 11 2022 23:34 IST.

Detailed explanation-4: -Union Finance Minister Nirmala Sitharaman is chairing the 49th meeting of the GST Council.

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