GoM formed to decide on compensation cess
Under the GST regime, a compensation cess is imposed on luxury, sin, and demerit goods in addition to the 28% GST rate.
GST Council forms GoM on compensation cess; report expected by Dec 31
Council has set up a 10-member GoM, chaired by Minister of State for Finance Pankaj Chaudhary, to decide on the taxation of luxury, sin and demerit goods once the compensation cess ends in March 2026.
India's GST Council Forms GoM to Review Luxury Tax Post-Cess
The GST Council Secretariat has hinted in an office memorandum that the terms of reference of the GoM is to make a taxation proposal to replace compensation cess after its abolition. (Representative Image: DC)
GST Council sets up GoM on compensation cess, panel to submit report by Dec 31
The Goods and Services Tax (GST) Council has set up a 10-member GoM, headed by Minister of State for Finance Pankaj Chaudhary, to decide on the future of compensation cess.
GST Council sets up GoM on compensation cess; panel to submit report by December-end
With just one-and-a-half year remaining for the cess to end, the GST Council in its 54th meeting on September 9 decided to set up a GoM to decide the future course of the cess. "The Terms of Reference of the GoM is to make taxation proposal to replace compensation cess after its abolition," the GST Council Secretariat said in an office memorandum.
GST Council forms 10-member GoM to decide on future of compensation cess, panel to submit report by Dec 31
The Group of Ministers (GoM), which includes members from Assam, Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh, Punjab, Tamil Nadu, Uttar Pradesh and West Bengal, will submit its report to the Council by December 31.
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GST Council sets up GoM on compensation cess; panel to submit report by December 31
GST Council sets up GoM to decide on taxation of luxury, sin, and demerit goods post-compensation cess end in March 2026.
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