Centre, states near deal to merge GST compensation cess into tax regime: Report

The Centre and states are close to reaching an agreement on folding the GST compensation cess into the broader Goods and Services Tax (GST) framework, Mint reported. A consensus is also emerging on sharing the surplus cess collections between the Centre and the states. The compensation cess, levied on luxury goods, tobacco, coal, and SUVs, is expected to bring in Rs 1.67 lakh crore this fiscal yea…