GST Council meet: States to remain net gainers despite rate rejig, say experts

September 3, 2025 6:02 PM

GST Council meet: States to remain net gainers despite rate rejig, say experts

While some states raised concerns over possible revenue loss at the 56th meeting of the GST Council on Wednesday, fresh estimates suggest that states will remain net gainers under the GST framework, even after a potential rationalisation of tax rates. According to an SBI Research report, states are projected to receive at least ₹10 lakh crore in State GST (SGST) collections in FY26, in addition to ₹4.1 lakh crore through tax devolution from the Centre. This optimism is rooted in the unique...

FM Sitharaman to chair two-day GST council meet in Delhi from today

September 3, 2025 10:56 AM

FM Sitharaman to chair two-day GST council meet in Delhi from today

The 56th meeting of the Goods and Services Tax (GST) Council will begin on Wednesday in New Delhi to review proposed reductions on more than 150 items. The two-day meeting will be chaired by Finance Minister Nirmala Sitharaman and attended by finance ministers from all states. Sitharaman said the next-generation GST reforms aim to create a transparent economy, reduce compliance burdens, and benefit small businesses. The Centre has proposed rate rationalisation under GST for the first time, int...