The Goods and Services Tax (GST) Council is kicking off its two-day 56th meeting in New Delhi today, with landmark reforms on the table. Chaired by Union Finance Minister Nirmala Sitharaman and comprising representatives from 31 states and Union Territories, the Council is set to deliberate on sweeping proposals that could reshape India’s indirect tax framework.
This round of discussions goes beyond routine rate changes. The focus is on rationalising GST slabs, easing compliance, and restructuring processes such as registration, refunds, and returns. Key agenda points include tax relief on essential items and exemptions for welfare services like health and life insurance for individuals.
Since its rollout in July 2017 — replacing 17 indirect taxes and 13 cesses — GST has undergone more than a dozen rounds of tweaks. However, this session marks the first comprehensive attempt at “next-generation” reforms, aiming to simplify structures, correct inverted duty scenarios, and minimise long-standing classification disputes — from parotta versus roti to variations in popcorn.
Read More: 56th GST Council Meeting Begins Today at 11 AM, Led by Finance Minister Nirmala Sitharaman
