The 56th GST (Goods and Services Tax) Council meeting kicks off today, 3rd September, at 11 AM in Vigyan Bhawan, New Delhi. The two-day meeting, chaired by Finance Minister Nirmala Sitharaman, will conclude on 4th September, after which the government is expected to announce key decisions.
A total of 33 members are participating in the meeting, including Finance Ministers from various states and senior officials from the central government.
The government is considering major reforms in the GST structure. Reports indicate that some everyday items like milk products, shampoo, and toothpaste could see a price drop as they may be shifted to the 5 percent GST slab.
Additionally, there are plans to eliminate the 12 percent and 28 percent GST slabs, which could simplify the tax system and reduce the overall tax burden for consumers.
