Date: September 3, 2025Venue: 56th GST Council Meeting, chaired by FM Nirmala Sitharaman In what could be one of the most transformative tax reforms in recent years, India’s GST Council—led by Finance Minister Nirmala Sitharaman—unveiled sweeping simplifications aimed at boosting consumption, easing financial burdens on citizens, and streamlining compliance for businesses. Key Highlights 1. Drastic Simplification: Only Two GST Slabs NowThe Council resolved to trim down the existing four-tier GST structure into just two slabs: 5% and 18%, discarding the 12% and 28% categories. Most goods previously taxed at 12%…
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