GST Council to discuss apportioning compensation cess beyond March 2026

The GST Council will decide on the modalities for appropriating the revenue collected by levying compensation cess on luxury, sin and demerit goods beyond March 2026, the deadline to repay loans taken by Centre to compensate states for revenue loss during Covid, an official said. Compensation cess was initially brought in for 5 years to make good the revenue shortfall of states following implement…