The 56th meeting of the GST (Goods and Services Tax) Council begins today, September 3, at Vigyan Bhawan in New Delhi and will continue till September 4. This crucial meeting, chaired by Finance Minister Nirmala Sitharaman, is expected to bring major reforms to India’s indirect tax structure.

A total of 33 members, including Finance Ministers from various states and senior central government officials, will participate in the discussions.

According to sources, the government may announce significant changes in the GST tax system. Daily-use products such as milk-based items, shampoo, and toothpaste might become cheaper as they could be shifted to the 5% GST slab.

Additionally, the council is likely to deliberate on removing the 12% and 28% GST slabs, a move aimed at simplifying the tax structure and reducing the overall burden on consumers. The final decisions will be announced after the two-day session concludes.