The GST Council is expected to meet soon after the Parliament's winter session to discuss changes in GST rates on insurance products, packaged drinking water, bicycles, notebooks, luxury wristwatches, and shoes. One of the key topics will be adjusting insurance tax rates and reviewing the compensation cess. The proposed changes could bring in ₹22,000 crore in additional revenue by lowering taxes on some goods and increasing them on high-end items.