The GST Council is set to convene a meeting to discuss potential rate reductions and the initiation of a rationalisation process, sparking anticipation about the potential outcomes.

The 58th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman, is set to take place today and tomorrow, with a focus on GST reforms. The meeting aims to simplify the current four-tier GST system, which includes rates of 5%, 12%, 18%, and 28%, into...