56th Goods and Services Tax Council Meeting Likely to be held in July, 2025.

picb

The 56th  Meeting of the Goods and Services Tax (GST) Council is likely to be held in the Month of July, 2025. The agenda of the Meeting is already under discussions. The formal date for the meeting will be announced soon. Major issues to come up for discussions during this GST Meet are rationalisation of GST Rates and the restructuring/ continuation  of the compensation cess. The Council meeting was earlier scheduled in June, 2025.  


Many states have expressed their concern over the possible  decrease in their revenue collections due to the expected cessation of Compensation Cess. Chances are there that the Compensation Cess may be converted into a permanent tax levy under the GST regime. 


Discussions on the rationalisation of GST rates may take some time. However, states  are apprehensive about their revenue aspects due to any delayed  consensus on this comprehensive rate overhauling. The Ministry of  Finance is already having discussions with the  industry and trade associations and is analysing their feedback on these matters. 

logo-mobile