Nirmala Sitharaman, the Finance Minister of India, is scheduled to chair the 38th Goods and Service Tax (GST) Council meeting on the 18th of December.
One of the major agendas of the GST Council meeting would be to review the GST and compensation cess rates on several items.
Many investors and other industrialists are waiting for the announcement about the GST, which would be made during the GST Council meeting.
Vinod Nair, the Head of Research at Geojit Financial Services, said, “Concerns on the fiscal path due to shortfall in GST collection may influence the Government to hike tax slabs which is likely to add inflationary pressure in the economy resulting in India 10 year yield inching to 6.8 %.”
Before the GST Council meeting, Ms. Sitharaman met the chief ministers of several states and sought several suggestions about the GST revenues. While many are in support of the GST hike, the West Bengal Government is said to be against it.
The meeting is scheduled to begin shortly in Delhi. The last GST Council meeting was held on the 20th of September in Goa.
Stay tuned for further updates.