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The Centre has officially notified revised GST rates for various goods following the historic 56th GST Council’s rate-rationalisation decision.

The 56th GST Council, led by Union Finance Minister Nirmala Sitharaman in New Delhi on September 3, 2025, announced a major overhaul to India’s Goods and Services Tax (GST) regime. These changes, effective September 22, 2025, are expected to directly impact household budgets and business operations, making certain daily-use items more affordable while maintaining standard taxation for most goods and services. The updated framework replaced the previous four-slab system (5%, 12%, 18%, and 28%) with a streamlined two-rate structure: a 5% rate for essential goods and an 18% standard rate for most goods and services.

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Union Finance Minister Nirmala Sitharaman has said the next generation GST reforms will infuse Rs 2 lakh crore into the economy, which will leave people with more cash in hand that otherwise would have gone as taxes.

"With this New Gen Tax regime, with only two slabs (5 per cent and 18 per cent), Rs 2 lakh crore is injected into the economy. People will have cash on hand," she said.

The minister said the GST revenues grew to Rs 22.08 lakh crore in 2025 from Rs 7.19 lakh crore in 2018 (FY 2017-18).

According to her, the taxpayer's number grew to 1.51 crore from the earlier 65 lakh.