The compensation cess under the goods and services tax (GST) is likely to be renamed but is expected to continue beyond its schedule sunset of March 2026. According to two sources, there is ...

Compensation cess has, in its previous avatars, been imposed on luxury, sin, and demerit goods while charging different rates ...

Three back-to-back GST Council meetings were held last year. These meetings saw major announcements, including changes in tax ...

The GoM looking into the much-debated restructuring of the GST compensation cess has been given time till June 30, 2025, to give their recommendations. These would be keenly awaited by many States.

The Ministry of Finance issued Notification No. 01/2025-Compensation Cess (Rate) on January 16, 2025, to exempt compensation ...

which also attract an additional 12 per cent GST compensation cess to compensate the States for loss of their own revenues when they agreed to implement the GST. GST is far from the simple ...

the entire amount of Cess estimated to be collected this year till March-end available for payment of compensation to States," the Ministry said in a statement. Goods and Services Tax (GST ...

Directorate General of Foreign Trade (DGFT) has introduced the Diamond Imprest Authorisation (DIA) scheme under Chapter 4 of ...

It also recommended to reduce the rate of Compensation Cess to 0.1 per cent on supplies to merchant exporters at par with GST rate on such supplies and exempt from IGST imports of all equipment ...

Here are the things that are getting cheaper and costlier after the GST Council meeting: The Council has recommended a GST reduction on the Fortified Rice Kernel (FRK) to five percent. FRK is ...