GST Council extends levy of compensation cess till March 2026 to repay the loans

The GST Council has agreed to levy compensation cess for an extended period upto March 2026 to enable the Centre to repay the loans, including principal and interest taken, to compensate states for GST collection shortfall. As per the GST legislation, states were to be compensated by the Centre for a period of five years till July 2022 for any shortfall in revenue due to GST implementation.
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Business News › News › Economy › Policy › GST Council extends levy of compensation cess till March 2026 to repay the loans
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