Monthly compilation

October 2026

45 facts across 9 syllabus headings, newest first. Each one is the same fact that ran in the daily capsule, with its source.

Monthly test

25 questions on October 2026

Drawn from 77 written this month; a fresh selection each attempt.

Economy

Economy9 October

GST Council recommends simplified registration and two-tier rate structure for GST

The 57th GST Council meeting recommended simplifying India's GST registration process with clearer guidelines and a user-friendly portal. The new rate structure includes only 5% and 18% rates, with a special 40% rate for select goods, building on the 2017 'One Nation, One Tax' framework to improve compliance and trade flow.

PIBIn our words1 practice question

Tested underTaxation and Economic ReformsEconomic PrinciplesTaxation in India

Economy8 October

GST Council recommends raising prosecution threshold to ₹5 crore and reducing penalty to ₹10,000

The GST Council has proposed raising the prosecution threshold from ₹1 crore to ₹5 crore and reducing the general penalty from ₹25,000 to ₹10,000. These changes aim to simplify compliance and reduce burden on small businesses, building on earlier reforms like rate rationalisation from the 56th meeting.

PIBIn our words2 practice questions