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