56th GST Council Meeting:
The 56th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman on 3rd September 2025 in New Delhi, marked one of the most significant overhauls of India’s indirect tax system since its inception in 2017. The meeting, which continues till 4th September, focused on next-generation GST reforms, with an emphasis on reducing the burden on the middle class, simplifying compliance for businesses, and ensuring better revenue collection. A key highlight was the Council’s decision to merge four tax slabs into two main ones—5% and 18%—while creating a special 40% slab for sin and luxury goods. The reforms are expected to make goods of mass consumption cheaper, boost consumer spending, and streamline the GST structure.
