Finance Minister Nirmala Sitharaman is likely to present the Centre's proposal for rationalising goods and services tax (GST) rates before a Group of Ministers (GoM) at a two-day meeting starting August 20 in the national capital.
The GoM, headed by Bihar Deputy Chief Minister Samrat Choudhary, is slated to meet in person at Vigyan Bhawan on August 20 and 21, with proceedings beginning at noon, as per the report.
A six-member state panel is expected to deliberate on the Union government's plan to move to a simplified two-slab GST structure.
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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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