GST Council Meeting 2025 Live Updates: The 56th GST Council meeting began on Wednesday to discuss the Centre's proposed reforms in the Goods and Services Tax (GST) system, announced by Prime Minister Narendra Modi on Independence Day. Chaired by Finance Minister Nirmala Sitharaman, the GST Council, comprising of ministers from all states, will deliberate on the proposed reforms for the next two days.

The proposals in the Centre's 'next-gen' GST reforms include a two-tier GST slab system -- 5 per cent and 18 per cent -- by moving products from the current 12 and 28 per cent slab to lower rates. Currently, products are taxed under the 4-tier GST structure of 5, 12, 18 and 28 per cent. The Centre has also proposed a special 40 per cent rate to be levied on a select few items.

Most of the common use food items like ghee, nuts, drinking water (20 litre), non-aerated drinks, namkeen, certain footwear and apparel, medicines and medical devices are likely to move from a 12 per cent to a 5 per cent tax slab. Common use items, ranging from pencils, bicycles, umbrellas, to hairpins, may also move to a 5 per cent slab. Electronic items like TVs, washing machine and refrigerator will also be taxed at a lower rate of 18 per cent, as against 28 per cent currently.

  1. 02:28 PM, 03 Sep 2025

    56th GST Council Meeting Today Live: Health, Term Insurances Likely To Get Cheaper

    Health and term insurance premiums may become cheaper if the GST Council approves rate cuts at its meeting today. Currently, health and term insurance products attract a GST rate of 18 per cent. Various proposals which have been referred to the council include complete exemption without input tax credit (ITC), a 5 per cent slab with or without ITC, or a 12 per cent rate with ITC.

  2. 02:05 PM, 03 Sep 2025

    56th GST Council Meeting Today Live: Opposition-ruled States Seek Compensation For Revenue Loss

    Finance ministers of opposition-ruled states sought compensation for revenue loss incurred by all states following the implementation of GST rate rejig. Eight opposition-ruled states -- Himachal Pradesh, Jharkhand, Karnataka, Kerala, Punjab, Tamil Nadu, Telangana and West Bengal-- had met last week to decide on how their revenues could be protected once the 12 and 28 per cent slabs are removed.

  3. 01:27 PM, 03 Sep 2025

    56th GST Council Meeting Today Live: Which Daily-Use Items Are Likely To See Price Cuts?

    Prices of most of the common use food items like ghee, nuts, drinking water (20 litre), non-aerated drinks, namkeen, certain footwear and apparel, medicines and medical devices are likely to be reduced.

  4. 01:10 PM, 03 Sep 2025

    GST Council Meeting 2025 Live Updates: Which Sectors Are Going To Benefit From GST Reforms?

    Sectors which are going to benefit from the Centre's next-gen GST reforms include, textiles, fertiliser, renewable energy, automotive, handicrafts, agriculture, health and insurance.

  5. 12:54 PM, 03 Sep 2025

    GST Council Meeting 2025 Live Updates: Sin goods likely to be under new 40% tax

    The special 40 per cent rate will also be for other demerit goods like tobacco, pan masala and cigarettes. There could also be an additional tax on top of this rate for this category.

  6. 12:50 PM, 03 Sep 2025

    56th GST Council Meeting Today Live: Special 40% Tax Proposed For Luxury Automobiles

    Automobiles, taxed at 28% GST plus a compensation cess, may see differential rates. Entry-level cars are proposed to be taxed at 18% while SUVs and luxury cars are proposed to be taxed at the special 40% tax.

  7. 12:26 PM, 03 Sep 2025

    GST Council Meeting 2025 Live Updates: Prices of most daily-use goods likely to be reduced

    The Centre's next-gen GST reformss propose the elimination of the 12 per cent and 28 per cent brackets. Instead, most goods would be placed under either a 5 per cent or an 18 per cent slab. At present, there are four GST rate slabs, which are 5 per cent, 12 per cent, 18 per cent, and 28 per cent.

  8. 12:26 PM, 03 Sep 2025

    56th GST Council Meeting Today Live: 2-Tier GST Slab, Rate Rationalisation On Agenda

    The two-day meeting, being held on September 3 and 4, is expected to bring significant changes to India's indirect tax structure, with discussions centred around rationalising and reducing the number of GST slabs.

  9. 12:25 PM, 03 Sep 2025

    GST Council Meeting 2025 Live Updates: Nirmala Sitharaman Chairs 56th GST Council Meet

    Chaired by Finance Minister Nirmala Sitharaman, the 56th GST Council meeting began on Wednesday. Ministers from all the states, who are part of the GST council, are also attending the meeting to discuss the GST reforms proposed by the Centre.,