Finance

Subsequent GST Council assembly on Sept 17; compensation cess on agenda

The upcoming GST Council assembly on September 17 will deal with the extension of compensation cess because the Council can also look into obligation inversion in particular sectors. States are demanding the extension of compensation cess for an additional 5 years.

The availability of compensation cess for income losses to states on the account of GST rollout was for a interval of 5 years from 2017. The state governments have been demanding the Centre to deal with the pending difficulty pertaining to compensation cess in addition to the pending compensation cost for final 12 months.

FM Nirmala Sitharaman had earlier dedicated after June 28 GST Council assembly that the Centre will maintain a particular assembly of the Council on the compensation cess difficulty.

Additionally learn: GST income assortment for Aug touches Rs 1,12,020 crore

Additionally learn: Q1 GST collections at 26.6% of price range estimates: Finance Ministry

 

Credit score – Monetary issues

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