Wed Sep 03 05:30:00 UTC 2025: Here’s a summary of the text rewritten as a news article:

**Headline: GST Council Meeting Begins: Major Overhaul Expected to Lower Prices on Everyday Goods**

**New Delhi:** The Goods and Services Tax (GST) Council commenced a crucial two-day meeting today, poised to finalize significant reforms aimed at simplifying the tax structure and benefiting consumers. Fuelled by Prime Minister Narendra Modi’s Independence Day announcement, the council is expected to reduce the number of tax slabs from four to potentially just two, with a focus on rationalizing rates across various goods and services.

The move comes as the government aims to streamline the GST regime, often criticized by the opposition, since its implementation on July 1, 2017. Finance Minister Nirmala Sitharaman stated before the meeting that the reforms are intended to bring more transparency and boost the economy, particularly for small businesses.

The proposed changes include potentially eliminating the 12% and 28% tax brackets, leaving only the 5% and 18% slabs. This could lead to lower prices on a wide range of daily necessities, including milk, paneer, namkeen, soap, oil, and clothing. Consumer durables like TVs, ACs, mobile phones, and vehicles are also expected to become more affordable if the changes are approved.

Specifically, packaged foods like namkeen, chips, pasta, and certain dairy products might see their GST rate reduced to 5%. There are also discussions about expanding the zero-GST category to include items like UHT milk, pre-packaged paneer, pizza bread, and roti.

Furthermore, educational materials such as maps, globes, and certain notebooks may be exempted from GST altogether. Reductions are also proposed for items like handloom products, footwear under ₹1,000, cement, and ready-mix concrete.

While the changes are projected to cost the government an estimated ₹40,000 crore in revenue, they are viewed as a significant relief for the average citizen. The Prime Minister has reportedly framed the GST reforms as a “Diwali gift” for the nation.

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