Growth of GST compensation cess outpaces overall GST in FY24

As the 54th GST Council Meeting last week formed a Group of Ministers (GoM) to decide the future of the GST compensation cess, data show that the tax component contributes substantially to the government coffers and merits continuation in new form once its levy ends in March 2026. businessline analysis of the annual GST compensation cess collections from FY18 to FY24 shows that the tax contributed…