The 56th Goods and Services Tax (GST) Council meeting, scheduled for today and tomorrow, in New Delhi, is set to discuss one of the biggest tax overhauls since the GST regime was rolled out in 2017. The main agenda for the meeting includes proposals to simplify GST rates with a focus on the 5 per cent and 18 per cent slabs. There are also plans to eliminate the 12 per cent and 28 per cent slabs, rationalising the tax structure. Meanwhile, there are chances of application of a 40 percent tax for luxury items, sin goods, and demerit goods.
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The October sales met street expectations despite GST led base, as the year-ago period (October 2025) was thefirst full month of GST Rate cut.
Maruti Suzuki achieved the milestone despite a high base following the previous GST rate cut. SUV sales touched an all-time monthly high of 73,058 units, while small car sales grew 38% year-on-year to 40,646 units.
Gross GST collections from domestic sales rose 16 per cent to over Rs 1.59 lakh crore, and revenues from imports climbed 42 per cent to Rs 72,246 crore.
Total GST refunds rose 6.5% year-on-year to Rs 27,934 crore from Rs 26,225 crore.
November 2026 brings several important financial changes, including revised PNB credit card charges, new fees on failed transactions at IndusInd Bank, GST amendments and an extended ITR filing deadline for eligible audited taxpayers.
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Wednesday June 10, 2026नरेंद्र मोदी के 12 साल के कार्यकाल में अर्थव्यवस्था ने तेज छलांग लगाई है, उसके कई क्षेत्रों में उल्लेखनीय सुधार हुआ है. मोदी सरकार को सुधार की दिशा में ऐसे कदम उठाने होंगे, जो भारत को अंतरराष्ट्रीय जगत के लिए तैयार करे.
Opinion | Why States, Not Centre, Should Get All The Credit For GST 'Savings'Derek O’Brien
Wednesday October 22, 2025Amidst all the hoopla, it is the State governments that truly deserve recognition for coming together for the GST revision. Because the States are the ones bearing the brunt of massive revenue losses.
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Wednesday October 15, 2025The GST rationalisation is a gradual impetus to India's growth story.
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