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GST next-gen reforms to stabilise in one year
In Short
Announcing various decisions taken at the 57th GST Council meeting here, Sitharaman said the tax rate reduction effected last year had not resulted in any loss of revenue, with collections growing steadily and becoming less dependent on festival months.
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GST next-gen reforms to stabilise in one year
New Delhi: The process reforms under the next-generation GST framework are expected to stabilise over the next one year, Finance Minister Nirmala Sitharaman said on Thursday, expressing confidence that the changes will improve ease of doing business while ensuring stable revenue for the Centre and states.
Announcing various decisions taken at the 57th GST Council meeting here, Sitharaman said the tax rate reduction effected last year had not resulted in any loss of revenue, with collections growing steadily and becoming less dependent on festival months.
New lower GST rates, kicked in from September 22, 2025, slashed prices of as many as 375 items, ranging from toothpaste and shampoo to cars and television sets.
Tax rates of 5, 12, 18, and 28 per cent have been clubbed into two rates -- 5 per cent and 18 per cent, resulting in a reduced price of 99 per cent of daily use items.
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