As per the recent tweet of CNBC TV 18, FM Nirmala Sitharaman tells that, she has proposed that the GST Council Do rate revisions only once a year, also suggests the council wait for a year before converging GST slabs. Further, I have clearly laid this thought at the GST Council’s table saying that please, can we do this exercise just once in a year? Instead of doing it every 3 months. You may collect all the demands and do the due process and wait for 1 year“.
Further more, I have also requested to GST Council until the whole thing settles down, we shouldn’t be in a rush to do a 2nd set of rationalization, rate reduction, or even reducing the 5 rates to two or three. So, I will wait for at least a year, when you are able to get a picture.