GST Council sets up GoM on compensation cess
Business Standard|September 28, 2024
The Goods and Services Tax (GST) Council has set up a 10-member Group of Ministers (GoM), chaired by Minister of State for Finance Pankaj Chaudhary, to decide on the taxation of luxury, sin and demerit goods once the compensation cess ends in March 2026.

The GoM, which includes members from Assam, Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh, Punjab, Tamil Nadu, Uttar Pradesh, and West Bengal, will submit its report to the Council by December 31.

The proceeds from the cess, which was originally planned for five years after GST roll-out or till June 2022, were used to compensate states for revenue loss incurred by them post the introduction of GST.

この記事は Business Standard の September 28, 2024 版に掲載されています。

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この記事は Business Standard の September 28, 2024 版に掲載されています。

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