https://www.taxtmi.com/news?id=53347 The GST Council will deliberate a Centre-proposed shift to a two-slab GST with rates of 5% and 18%, classifying supplies as 'merit' and 'standard', and a special 40% rate on select ultra-luxury and sin items. The meeting will also consider Group of Ministers' recommendations on rate rationalisation, the compensation cess framework, and taxation of health and life insurance, contrasting the proposal with the existing four-tier GST structure of 5%, 12%, 18% and 28%. en-us Fri, 22 Aug 2025 21:46:03 +0530 Fri, 22 Aug 2025 21:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=53347 The GST Council will deliberate a Centre-proposed shift to a two-slab GST with rates of 5% and 18%, classifying supplies as 'merit' and 'standard', and a special 40% rate on select ultra-luxury and sin items. The meeting will also consider Group of Ministers' recommendations on rate rationalisation, the compensation cess framework, and taxation of health and life insurance, contrasting the proposal with the existing four-tier GST structure of 5%, 12%, 18% and 28%. News - Fri, 22 Aug 2025 21:46:03 +0530 https://www.taxtmi.com/news?id=53347