Government Likely To Push Quick Rollout Of Lower GST Rates To Prevent Festive Sales Slowdown

The GST Council is under pressure to act fast — rolling out new tax cuts quickly to ensure festive sales don’t stall. Anticipation of lower GST rates has already led buyers to postpone purchases of cars, two-wheelers, and other big-ticket items, raising concerns about a temporary sales dip. Business Today TV has learnt that the new rates could be in place as early as September 5. Reports suggest GST may be cut on small vehicles, air conditioners, televisions, cement, FMCG, and more—delivering big savings for households. Economists warn that delays in implementing the cuts could dampen the festive shopping spirit. Meanwhile, a State Bank of India Research report says states will remain net gainers, with GST revenues set to cross ₹14.10 lakh crore this fiscal, even after short-term dips.