GST Council meet on rate reform begins; TDP supports, opposition bloc seeks revenue protection
GST
Dated:- 3-9-2025
PTI
New Delhi, Sep 3 (PTI) The 56th meeting of the GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising state ministers, on Wednesday started deliberations on 'next-gen GST' reforms, which will lower tax rates on items of mass consumption, remove duty inversion in sectors, like textiles, and ease compliance burden for MSMEs.
\n The Council, over the next two days, will discuss reducing the number of slabs in GST to just two 5 per cent and 18 per cent and removing the 12 per cent and 28 per cent slabs. Also, a special 40 per cent tax has been proposed on a select few items, including tobacco a<\/p>\n
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\n “As an alliance partner, we are supporting the Centre's proposal of GST rate rationalisation. It is in favour of the common man,” Keshav told reporters before the Council meeting. Andhra Pradesh's Telugu Desam Party (TDP) is an ally of the BJP-led NDA government at the Centre.
\n Prime Minister Narendra Modi, in his Independence Day speech on August 15, unveiled the plan for GST reforms. Shortly thereafter, the central government shared a blueprint of the planned reform with a Group of Ministers (GoM) from different states for initial vetting.
\n As many as eight sectors textiles, fertiliser, renewable energy, automotive, handicrafts, agriculture, health and insurance will benefit the most from the rate overhaul, as per the Cen<\/p>\n