The major change in GST will end, 12 % will end; The meeting will be held on June 20 - GST tariff changes and compensation CESS FM to meet Cibic before the Council Meeting

Finance Minister Nirmala Sitharaman will hold a meeting with the CBIC officials on June 20 to discuss the change in the GST system. In this meeting, changes in GST tariffs will be considered on the remuneration of the remuneration and the GST collection. It is believed that the next meeting of the GST council will be held after this meeting. It is necessary to call Jagran Bureau, New -Delhi, a GST council meeting every three months (symbolic photo). The exercise on changes in the GST system has begun. Finance Minister Nirmala Sitharaman will hold an important meeting with Central Indirect Tax and Customs (CBIC) officials before the upcoming GST council meeting. Although the Minister of Finance will also hold a meeting with the income tax department on this day, the meeting with CBIC is considered important as a result of the change in GST tariffs and the issue of compensation. In the meeting, issues such as GST collection attitudes, logical changes in rates, rules related to GST registration and compensation transfer with CBIC will be discussed. The meeting is believed to be mentioned once in three months, and it is believed that the next meeting of the GST board will only be held after this meeting. The GST council meeting has not been called over the past six months, while according to the trend, it is necessary to call a GST council meeting once every three months. In the last meeting of the GST Council last December, it was decided that the upcoming meeting would discuss the GST tariffs so that the GST plate could be changed. A group of ministers were also founded on this and according to the sources, the group submitted its report to the council. Sources hope to remove a 12 percent plate say that 12 percent plate can be removed from the GST plate and that the items included in this plate can be moved to five percent and 18 percent according to their needs. Currently, GST tariffs are three, five, 12, 18 and 28 percent. According to sources, officials from the ministry, led by the Finance Minister, will discuss the tariff change with the CBIC on June 20, as the government wants to be convinced before any change that changes in rates will not reduce the GST collection. The monthly collection of GST was in the first two months of the current financial year 2025-26 above two Lakh-Crores. In the meeting with the CBIC, there will also be a serious discussion on the repayment of input credit tax, as many business people are having trouble getting input credit tax due to the current rules. The businessman he sells his property, and if he has not submitted his GST return, does not get the input tax credit to the seller’s businessman. Input credit tax refunds will be talked about removing such problems related to repayment. Apart from this, the future of compensation transfer will also be discussed. The validity of the remuneration support ends in March next year. After that, whether it will continue with this strike or not, it will also be discussed with the CBIC and then at the GST council meeting. A group was established under the guidance of the Minister of Finance Pankaj Chaudhary regarding the future of compensation. The group was asked to submit its report by June 30. Also read: Beware! An error and your input tax credit will forever get stuck