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The reduction in Goods and Services Tax on items such as cement, steel, marble, granite blocks, which are used in construction and housing sector has been received with tepid enthusiasm by the builder community, which feels that the government should have addressed the issue of input tax credit and provided incentives to boost affordable housing.
GST Council issued FAQs on the recommendations made in 56th GST council meeting held on 03.09.2025
GST Council has made it clear that tobacco and related products will be the only category to migrate to the new GST 2.0 framework at a later stage, even as the rest of the tax overhaul goes live from September 22, 2025.
Union Commerce and Industry Minister Piyush Goyal on Thursday said that the industry has given the commitment to pass on the benefits of GST rate reductions to consumers.
The new structure has reduced the GST bracket to only two (5 per cent and 18 per cent), besides a 40 per cent ‘sin tax’ for select goods, from the earlier more complicated five slabs (0, 5, 12, 18, and 28 per cent).
Sector wise GST rate changes on goods as recommended in 56th GST Council meeting held on 03.09.2025
Key highlights on 56th GST council recommendations
HSN wise GST rate changes on Goods as recommended in 56th GST Council meeting held on 03.09.2025 as follows :-
HSN wise GST rate changes on services as recommended in 56th GST Council meeting held on 03.09.2025
Measures recommended in 56th GST Council meeting for facilitation of Trade is as follows: