This will be the first meeting of the Council since the launch of the Goods and Services Tax (GST) on July 1 and the 19th since it was set up in September last year.
But unlike the earlier meetings, when the states and Centre used to sit across the table and decide on a plethora of issues, this time the interaction would happen through video conferencing.
After the last Council meet on June 30, it was decided that next meeting will happen on August 5.
But the date of the meeting, sources said, was advanced as the Council wanted to take stock of the situation post the rollout and get a nation-wide report.
The council,chaired by Jaitley and having state finance ministers as members, has over the past 10 months ironed out various contentious issues and decided on a four-tier tax structure of 5, 12, 18 and 28 per cent.
Over the last two weeks, the ministry has been issuing clarifications on doubts raised by industry.
The finance ministry had earlier said the GST has been implemented"without any major problems being reported" from the field offices.
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