₹95k cr surplus likely in GST compensation fund

The GST Council may take a view on this matter at its next meeting, expected to be held soon, and decide how this excess amount -- collected as compensation cess -- would be utilised, they said, requesting anonymity. A cess is a specific-purpose levy in addition to regular taxes and the money from a cess fund is spent for a designated aim. The GST Council, which is the apex decision-making body on…