The 55th GST Council meeting will be conducted on December 21, 2024, at Jaisalmer, Rajasthan. The GST Council, which is headed by Union Finance Minister Nirmala Sitharaman and comprises representatives of all states and UTs, is the apex decision-making body for indirect taxes in India.
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“The 55th meeting of the GST Council will be held on 21 December, 2024 at Jaisalmer, Rajasthan,” the GST Council said in a post on X on Monday.
In the meeting, the GST Council is likely to discuss the GoM’s decision to exempt health insurance premiums up to Rs 5 lakh coverage and term life insurance premiums. The GoM also proposed to cut tax rates on 20-litre packaged drinking water bottles, bicycles and exercise notebooks to 5 per cent, apart from suggesting a higher 28 per cent tax on high-end wristwatches and shoes.
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Last month, the group of ministers, headed by Bihar Deputy Chief Minister Samrat Chaudhary, proposed to reduce rates on several items and hike on many, and the overall rejig is expected to yield a revenue surplus of Rs 22,000 crore.
