GST meet to weigh cess alternative

The GST Council meeting later this month is likely to discuss a revamp of the Goods and Services Tax (GST) regime, with a focus on streamlining rates and phasing out the compensation cess, which will expire in March 2026. Government officials said the compensation cess could be phased out earlier, with a new tax likely in its place. The cess is a levy on luxury and sin goods to compensate states f…