GST compensation cess – will it become a permanent feature?

With a view to ushering in the mother of all economic reforms in India, that is Goods and Services Tax, the then finance minister  Arun Jaitley , had agreed to what certain sections of the society may view as an unreasonable demand from the states. A promise was made to compensate loss of revenue due to introduction of GST that may be suffered by the states, considering the tax collection of…