56th GST Council Meeting sets rolling next-generation GST reforms, as announced by Prime Minister Narendra Modi from the ramparts of Red Fort on 15th August 2025
The GST reforms represent a strategic, principled and citizen-centric evolution of a landmark tax framework, which will enhance the quality of life of every last citizen
GST Council approves rate rationalisation with a focus on Common-man, Labour-intensive Industries, Farmers and Agriculture, Health, Key Drivers of the economy
GST Council Clears Two-slab Structure, New Rates Will Commence From Sept 22
New Delhi, NFAPost: The Goods and Services Tax (GST) Council, in its 56th meeting which lasted over 10 hours on Wednesday, cleared the next-generation reforms under the eight-year old indirect tax regime. This effectively paves the way for a broad two-slab structure of 5% and 18% with a demerit rate of 40% rate only for super luxury, sin and demerit goods.
