Union Minister Pankaj Chaudhary convenes a GoM to revise GST compensation cess nomenclature, propose cess sharing, and recommend legal changes.

Union Minister of State for Finance Pankaj Chaudhary will convene a Group of Ministers (GoM) to revise the GST compensation cess nomenclature. This group will propose how the cess from luxury and demerit goods will be shared between the Centre and states, and recommend necessary legal changes. The initiative follows the government's borrowing of Rs 2.69 lakh crore to offset states' revenue losses during the pandemic, with repayment expected by early 2026.

September 15, 2024
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