New Delhi: The 52nd Goods and Services Tax (GST) Council meeting will take place today, Saturday, at Sushma Swaraj Bhawan in New Delhi under the chairmanship of Finance Minister Nirmala Sitharaman.
The meeting will be attended by Union Minister of State for Finance, MP Poonia, along with Finance ministers of various States and Union Territories (with Legislature), as well as senior officials from both the Union government and the states.
According to the media reports, the council may consider a proposal to lower GST on molasses to 5% from 28%. Molasses, a byproduct of sugar production, is used to make extra-neutral alcohol and ethanol.
The GST Council convenes periodically to deliberate on matters related to the GST regime, including tax rates, policy changes, and administrative issues.
The 52nd meeting is aimed at discussing critical issues affecting the Indian tax system and finding collaborative solutions.
The GST Council plays a pivotal role in shaping India’s indirect tax structure, ensuring that it aligns with the nation’s economic goals and eases the tax burden on citizens and businesses.
The decisions and recommendations arising from the 52nd GST Council meeting will be closely watched by various stakeholders, including businesses, policymakers, and the general public, as they have the potential to influence taxation, trade, and overall economic dynamics in the country.
