The meeting of all-powerful GST Council is going to be held against the backdrop of lower-than-expected GST collection.
The meeting of all powerful GST Council is expected to take place in the second half of this month to deliberate on a host of issues.
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.
Last time services activity contracted for two consecutive months was in August 2017 following the GST implementation.
The gross GST revenue collected in the month of October, 2019 is Rs 95,380 crore of which CGST is Rs 17,582 crore.
A few companies, especially with exposure to the realty space, may face problems in the future, said HDFC's Aditya Puri.
The government should take these measures, although this may increase the fiscal deficit, said the Godrej Group Chairman.
I would say that this is the time where we need to focus on implementing structural reforms, said CEA K V Subramanian.
The revenue during September 2019 declined by 2.67 per cent in comparison to the revenue during September 2018.