New Delhi, September 3 (HS): The two-day meeting of the Goods and Services Tax (GST) Council begins here on Wednesday, where crucial changes to the GST framework may be considered, particularly aimed at reducing taxes on everyday consumer goods. The council is chaired by Union Finance Minister Nirmala Sitharaman and includes representatives from all states.

During the deliberations, discussions are expected on a set of proposed GST reforms. Among the key proposals is the restructuring of the current four-tier system by eliminating the 12 percent and 28 percent tax slabs, thereby retaining only two primary rates—5 percent and 18 percent. Additionally, certain specific products may continue to attract a special tax rate of 40 percent.

It is noteworthy that in his Independence Day address, Prime Minister Narendra Modi announced the government’s intention to move forward with GST reforms. Following this, the Centre shared a draft proposal with a group of state ministers for preliminary review and feedback.

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Hindusthan Samachar / Jun Sarkar