In an office memorandum, the GST Council Secretariat said the two-day meeting will be held in New Delhi.
The council, comprising finance ministers of all states and union territories besides the Centre, will discuss recommendations made by three Groups of Ministers (GoMs) on rate rationalisation, compensation cess, and health and life insurance.
The GoM comprising state ministers had met earlier this week and, in principle, agreed to the Centre’s proposal for a two-slab GST.
According to the reform proposed by the Centre to the GoMs, the Goods and Services Tax (GST) should follow a two-rate structure of 5 and 18 per cent, classifying goods and services as ‘merit’ and ‘standard.’
A special rate of 40 per cent will be levied on select items such as ultra-luxury cars and sin goods.
At present, GST follows a four-tier structure of 5, 12, 18, and 28 per cent.
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