The meeting of all-powerful GST Council is going to be held against the backdrop of lower-than-expected GST collection.
The government, however, said the revenues shot up sharply in November due to festival demand in October.
According to official sources, the number reflects pick up in consumption and improvement in compliance as well.
The Centre has also reduced the credit limit of the state by almost Rs 6000 crore.
The earlier deadline for filing of GSTR-9 and GSTR-9C for 2017-18 was November 30, 2019, while that for 2018-19 was December 31, 2019.
Last time services activity contracted for two consecutive months was in August 2017 following the GST implementation.
This is the third consecutive month when GST mop-up remained below the `1 lakh crore mark, despite October being a festive month.
The gross GST revenue collected in the month of October, 2019 is Rs 95,380 crore of which CGST is Rs 17,582 crore.
Growth can come back. Because of a lot of (reforms), economy is in transition, said SBI chief Rajnish Kumar.
The government should take these measures, although this may increase the fiscal deficit, said the Godrej Group Chairman.