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56th GST Council Meeting: Big Relief on Essential Goods

56th GST Council Meeting

The 56th GST Council meeting in New Delhi, chaired by Finance Minister Nirmala Sitharaman, focused on amending GST slabs, easing compliance, and executing next-generation GST reforms. FMCG, auto, and cement sectors are expected to benefit under the proposed tax cuts, ensuring relief for consumers.

The first day of the meeting on 3rd September revolved around rationalising GST tax slabs. A key proposal included removing the 12% and 28% slabs by shifting goods to 5% or 18%, while introducing a higher 40% slab for sin goods.

On the second day, 4th September, discussions moved towards compliance reforms such as pre-filled returns and automated GST refunds. These measures form part of the next-generation GST reforms, scheduled for implementation in early October 2025, as announced by Prime Minister Narendra Modi on Independence Day 2025.

The meeting concluded on 4th September, with the Council set to issue detailed notifications and timelines for the proposed reforms in the coming weeks.

56th GST Council Meeting Updates

Read Official Press Release

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