GST Council Meet Extension of Compensation Cess to States to Be in Focus

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GST Council meet: Extension of compensation cess to states to be in focus

The much-anticipated 47th Goods and Services Tax (GST) Council meeting, with its attention on GST rate rebuilding and augmentation of GST remuneration cess, will presently perhaps be held in the principal seven day stretch of May, when the Union Finance Minister Nirmala Sitharaman gets back from her 10-day visit to the US in the wake of going to the World BankIMF meeting recently.

Among the numerous things on the Council's plan, the expansion of the GST remuneration cess to states could end up being an antagonistic issue assuming the public authority won't agree to the solicitation, given its vociferous interest from a few resistance rules states.

The states have asked the Center to broaden the five-year remuneration period under the GST regulation before its end by June-end. Any transition to expand the GST remuneration cutoff time, nonetheless, will require an alteration to the Indian Constitution, which should be taken up in the following parliamentary meeting in light of the fact that the Constitution's 101st amendment, states must be made up for quite a long time, beginning 2017....Read More