The argument propagated has been to boost the consumption and the domestic demand by reducing GST rates further.
This is the second time during this year that the revenue collection from the GST slipped below the Rs 1 lakh crore mark.
The government has set 7 per cent growth target for the current fiscal and data points of the first quarter are in line with that direction.
The July 2019 mop-up was, however, 5.8 per cent higher than the Rs 96,483 crore collected in the same month last year.
The council also approved GST exemption for hiring of electric buses by local authorities.
For electric vehicles' promotion, the government has already proposed to the Council to slash GST rates to 5 per cent from 12 per cent.
The industry body has suggested imposing a maximum customs duty of Rs 4,000 on handsets priced above Rs 20,000.
The government would also be bringing changes to seven laws related to direct taxes.
In 2018-19, 1,620 cases of fake invoicing were detected involving Rs 11,251.23 crore, and 154 persons were arrested.
Corporation tax is the single largest source of income, contributing 21 paise to each rupee earned.