‘No GST Rate Hikes In Near Future’:  Says Bihar Finance Minister Sushil Kumar Modi Post GST Council Meeting

Deputy Chief Minister (Dy CM) and Finance Minister of Bihar, Sushil Kumar Modi on Saturday (21 December) ruled out any rate hikes in the GST tax slabs in near future, reports Business Standard.

The assertion from Modi comes after the GST Council in its recent meeting decided to not hike the rates on any products. He said that unless the tax collection stabilises, any rate hike won't be possible.

Modi also shared that the Council has determined to consider any changes in tax slabs only once a year, and not in each and every meeting. He shared the details speaking at FICCI's 92nd annual convention.

Meanwhile, it should be noted that the Union Ministry of Finance's Department of Revenue has set an ambitious target to achieve a GST collection of Rs 1.1 trillion or more in each of the remaining four months of the ongoing financial year.