GST Council Meeting 2025: List of items that are expected to get cheaper or costlier

The 56th GST Council meeting is underway in the national capital. Chaired by Union Finance Minister Nirmala Sitharaman, the meeting will discuss a proposal that seeks to prune the number of tax slabs from four to just two. The Centre has proposed having just two tax slabs of 5 and 18 per cent by moving products from the current 12 and 28 per cent to lower rates. A special 40 per cent rate has been proposed to be levied on a select few items. It is expected that the majority of items in the 12 per cent slab will be moved to the 5 per cent slab, making them much cheaper. Similarly, a large number of items will be moved from the 28 per cent slab to the 18 per cent slab. However, the final decision will be announced by Sitharaman on September 4. 

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