India is considering raising the GST on cigarettes and tobacco products to 40% and adding an additional excise duty after compensation cess...

Following the news, VST Industries shares fell 4% to day's low of Rs 287.20, Godfrey Phillips stock fell about 4% while ITC fell over 2% to...

The finance ministry assures there is no concern regarding the sufficiency of the GST compensation cess fund. It is on track to meet all ob...

A group of ministers (GoM) will likely request the GST Council to extend the December 31 deadline for their report on compensation cess by ...

The GoM on GST discussed merging compensation cess with GST. States suggested no new items should be added during this transition. Compensa...

Finance Minister Nirmala Sitharaman announced that the upcoming GST council meeting will address the rationalisation of tax rates, includin...

The GST Council will discuss the future of the compensation cess on luxury and demerit goods collected to repay loans taken by the Indian g...

The tobacco industry had sought "uniform additional compensation cess on cigarettes, compensation cess on bidis, additional compensation ce...

The centre on Friday proposed an amendment in the Schedule of the GST (Compensation to States) Act, 2017in the finance bill which capped th...

Karnataka has been on the forefront among the states in seeking an extension of GST compensation on grounds that its tax revenues have not ...

The Centre has estimated the shortfall in GST compensation payable to states in the current fiscal year at Rs 2.59 lakh crore, of which abo...

"In all earnest there has been no diversion of funds... the time taken in reconciliation of compensation receipts can’t be termed as divers...

Pointing out that the cess collected was non-lapsable, which means it should be carried over to the next financial year, the former chief m...

“Audit examination of information in Statements 8, 9 and 13 with regard to collection of the cess and its transfer to the GST Compensation ...

The Council’s 41st meeting on August 27 would discuss a single matter: compensation to states for revenue losses under the indirect tax reg...

“States should not be made to bear the burden of borrowing, which in any case is likely to be higher than the rate at which the central gov...

Under the GST framework, any decision on compensation and how it needs to be provided rests with the council, according to a person familia...