Delhi hosted the 56th GST Council meeting at Tamil Nadu House , chaired by Union Finance Minister Nirmala Sitharaman . The session began at 9 AM with finance ministers from all states in attendance . Telangana’s Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka and Andhra Pradesh Finance Minister Payyavula Keshav were present , along with other state finance ministers. The main council session officially commenced at 11 AM at Sushma Swaraj Bhavan .
The meeting focused on key GST reforms, including potential rationalization of the current four-tier GST rates (5%, 12%, 18%, 28%) into two slabs—possibly 5% and 18% . Discussions are also underway on reducing GST for health and life insurance sectors, easing licensing for small businesses, and deciding on the future of GST compensation cess for states. Additionally, GST rates for drones and packaged goods were reviewed.
Industry experts and taxpayers are closely watching, as the government is expected to implement approved rate reductions immediately. Last year, the 55th GST Council reduced GST on rice and grocery items to 5%, signaling significant relief for consumers.
