Current Context : The Goods and Services Tax (GST) Council has set up a 10-member 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.
ABOUT GST COMPENSATION CESS
GST (Compensation to States) Act, 2017 was enacted to ensure that states are compensated for any loss of revenue due to the implementation of the Goods and Services Tax (GST).
Compensation Cess is imposed on certain goods to generate funds for compensating states for revenue losses.
Goods Subject to Compensation Cess:
Compensation Period:
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