Mumbai, Sept. 22 -- The Ministry of Coal has welcomed the landmark decisions taken at the 56th meeting of the GST Council held in New Delhi, which have brought significant changes to the taxation structure of the coal sector. These reforms mark a transformative step towards AatmNirbharta in Coal and represent a balanced approach that benefits both coal producers and consumers alike.

Key Decisions of the 56th GST Council Meeting

* Removal of GST Compensation Cess: The Council has eliminated the Rs.400 per tonne Compensation Cess previously levied on coal.

* Increase in GST Rate on Coal: The GST rate on coal has been raised from 5% to 18%.

The impact of the new reform on coal pricing and the power sector is a substantial reduction in ov...