NEW DELHI: Amid discussions for reduction of GST for many products, a group of ministers from states, headed by Bihar deputy CM Samrat Chaudhary, will meet next week. Several members of GoM, especially those from the Opposition, had suggested maintaining status quo on slabs and rates, citing possible adverse impact on revenue, but govt has undertaken a significant amount of work. Another panel of state ministers is also tasked with issue of lower or zero GST on health and term life covers, where the resistance is lower and is likely to be finalised shortly.Over next few weeks, govt and states are expected to work together for a revamp of the eight-year-old tax regime, with reworking of cess, which can help cover some of the possible dent to state revenues.
