The GST Council is set to meet on September 3 and 4 with a preparatory meeting of the Fitment Committee also scheduled for Tuesday. It is being speculated that the 12% and 28% tax slabs could be scrapped and make several services cheaper. Prime Minister Narendra Modi in his Independence Day address from the Red Fort had announced a “double gift” for citizens this Diwali which is expected to include cuts in GST rates. Ahead of the Council’s meeting Many food items may get cheaper. What Will Get Cheaper After GST Reforms? At present hotel rooms priced up to Rs 7500 have 12% GST while more expensive rooms are taxed at 18%. The government wants to simplify tax rules and remove classifications. Aviation is another sector with different GST rates for economy and business class travel.  In insurance GST rates for term and health insurance may be revised resulting in separate tax rates. However car and home insurance may continue with 18% GST. There is growing demand to reduce GST on certain common services. Apartment maintenance charges above Rs 7500 currently have 18% GST and paid to RWAs (Resident Welfare Associations) or housing societies. Homeowners state that in most societies even three-bedroom flats exceed this maintenance threshold. Some other services are also under review for tax cuts like personal care services like salons may get relief. But certain luxury services may get higher taxation like casino entry fees may be charges with 40% GST. The government’s focus is to ease the burden on the common man while streamlining the GST system. If they eliminate 12% and 28% 99% of items currently under the 12% slab will go to the 5% slab.