New Delhi, Sept. 3 -- The 56th Meeting of the GST Council is underway in New Delhi. Union Finance Minister Nirmala Sitharaman is chairing the two-day meeting. The Council is expected to deliberate on India's next-generation GST reforms, including rationalisation of tax rates and simplification of compliance. Finance Ministers of several States and Union Territories are participating in the meeting.

Prime Minister Narendra Modi, during his Independence Day address last month, highlighted hothe w Goods and Services Tax has benefited the nation. Mr Modi had underscored the importance of the next generation of reforms under GST, which will bring relief to the common man, farmers, middle class and MSMEs. The next-generation GST reforms will b...