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Compensation cess: GST Council’s GoM to decide on luxury, sin tax
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.
GST Council sets up GoM on compensation cess; panel to submit report by December 31
GST Council sets up GoM to decide on taxation of luxury, sin, and demerit goods post-compensation cess end in March 2026.
GoM formed to decide on compensation cess
Under the GST regime, a compensation cess is imposed on luxury, sin, and demerit goods in addition to the 28% GST rate.
Group of Ministers set up to decide future of GST compensation cess on luxury, sin and demerit goods
The panel, chaired by minister of state for finance Pankaj Chaudhary, will submit its report by December 31. It will consider whether to continue the cess or impose additional taxes
GST Council forms GoM on compensation cess; report expected by Dec 31
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.
Constitution of Group of Ministers on restructuring GST Compensation Cess
The Office of the Goods and Services Tax Council Secretariat has announced the constitution of a Group of Ministers (GoM) to explore restructuring the Compensation Cess, following discussions during the GST Council’s 54th Meeting on September 9,
GST Council Forms GoM To Determine Taxation On Luxury And Sin Goods Post-Cess
With just one-and-a-half year remaining for the cess to end, the GST Council in its 54th meeting on September 9 decided to set up a GoM to decide the future course of the cess.
GST Council Forms GoM on Compensation Cess
The GST Council has formed a GoM to decide on the future of compensation cess. The GoM will submit its report by December 31st, 2023.
GST Council forms 10-member GoM to decide on future of compensation cess, panel to submit report by Dec 31
The Group of Ministers (GoM), which includes members from Assam, Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh, Punjab, Tamil Nadu, Uttar Pradesh and West Bengal, will submit its report to the Council by December 31.
India's GST Council Forms GoM to Review Luxury Tax Post-Cess
The GST Council Secretariat has hinted in an office memorandum that the terms of reference of the GoM is to make a taxation proposal to replace compensation cess after its abolition. (Representative Image: DC)
The Financial Express
1d
GST cess may stay beyond FY26, to take a new form
As per an RBI study, the weighted average tax rate under the GST had come down to 11.6%, from 14.4% at the time of its launch ...
Opinion
The Pioneer
6d
Opinion
GST cess extension: Is it Justified Beyond 2026?
With loans likely to be repaid by January 2026, the question arises—can the continued levy of the cess be logically justified ...
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