GST reform: Opposition-ruled states demand compensation for revenue loss

In the run-up to the Goods and Services Tax (GST) Council meeting on September 3 and 4, a group of eight non-BJP ruled States have proposed a cess to be levied on sin and luxury goods over and above the proposed 40% GST rate, in a bid to protect the States’ revenues.  Without such a cess, the revenue losses from the Centre’s proposed rate rationalisation, which they estimated as at least 15%,…