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GST Council to meet next on Sept 17; compensation cess on agenda

GST Council to meet next on Sept 17; compensation cess on agenda

The states have been demanding the Centre should address the pending issue pertaining to compensation cess as well as the pending compensation payment for last year

FM Nirmala Sitharaman FM Nirmala Sitharaman

The upcoming GST Council meeting on September 17 will focus on the extension of compensation cess as the Council may also look into duty inversion in specific sectors. States are demanding the extension of compensation cess for another five years.

The provision of compensation cess for revenue losses to states on the account of GST rollout was for a period of five years from 2017. The state governments have been demanding the Centre to address the pending issue pertaining to compensation cess as well as the pending compensation payment for last year.

FM Nirmala Sitharaman had earlier committed after June 28 GST Council meeting that the Centre will hold a special meeting of the Council on the compensation cess issue.

Also read: GST revenue collection for Aug touches Rs 1,12,020 crore

Also read: Q1 GST collections at 26.6% of budget estimates: Finance Ministry

 

Published on: Sep 01, 2021, 10:22 PM IST
Posted by: Manoj Sharma, Sep 01, 2021, 10:18 PM IST