With the clock ticking on next-generation GST reforms slated for an October rollout, the 56th meeting of the GST Council will be held over two days from September 3. A notice issued late Friday by Revenue Secretary Arvind Shrivastava, who serves as the Council’s ex-officio secretary, also confirmed that officers from the Centre and states will meet on September 2 to prepare the agenda.
The Council’s deliberations follow a series of meetings in Delhi this week where chief ministers and state finance ministers reviewed reform proposals. The ministerial panel on rate rationalisation has already given in-principle approval to the overhaul, but item-by-item discussions are expected at the September meeting.
Chaired by Union Finance Minister Nirmala Sitharaman and comprising representatives from 31 states and Union Territories, the Council will weigh proposals to lower tax rates on common-use goods and exempt services such as health and life insurance for individuals.
Key concerns raised by states include whether a mechanism will be put in place to compensate for revenue losses and how the benefits of rate cuts will reach end consumers. Both issues are set to dominate the discussions as the Council works through items across various tax slabs.