47th Meeting of the GST Council on June 28-29 in Srinagar

The 47th Meeting of the GST Council will be held on 28th and 29th of this month in Srinagar. The GST Council's last meeting which was held in New Delhi had recommended deferring the decision to change the rates on textiles.

The GST Council had decided to retain the status quo on the GST rate on textile at five per cent.

Office of Finance Minister Nirmala Sitharaman in a tweet said, "The 47th meeting of the GST Council will be held on June 28-29, 2022 (Tuesday & Wednesday) in Srinagar."

The GST Council is likely to have a discussion on various issues including the GoM interim report on rate rationalisation as well as the GST rates on race courses, casinos and online gaming among others.

The GST Council comprises finance ministers of the Centre and states. Under the GST, a four-rate structure are imposed of which 5 per cent tax, which is the lowest rate of tax applies on essential items while the top rate is of 28 per cent that applies on luxury and demerit goods. The other slabs of tax are 12 and 18 per cent.

Notably, the implementation of GST will also be completing five years on July 1, 2022.