Recommendations made in the 56th GST Council meeting
Concluding its much-anticipated 56th GST Council meeting, the Council reached a consensus to streamline the existing four-rate structure—5%, 12%, 18%, and 28% + Compensation Cess—into a simplified two-rate slab: 5% and 18%, along with a special rate of 40%. This decision is expected to enhance compliance, reduce complexity, and foster greater transparency in the GST regime.
