GST council set to convene soon; tax simplification, compensation cess likely on agenda
The Goods and Services Tax Council will soon meet to discuss GST simplification. Tax rate rationalisation and the future of the compensation cess are on the agenda. A Group of Ministers is examining extending the compensation cess beyond March 2026. The cess currently applies to luxury and sin goods. It is used to repay COVID-19 loans to states.
The Goods and Services Tax Council will soon meet to discuss GST simplification. Tax rate rationalisation and the future of the compensation cess are on the agenda. A Group of Ministers is examining extending the compensation cess beyond March 2026. The cess currently applies to luxury and sin goods. It is used to repay COVID-19 loans to states.
