GST council set to convene soon; tax simplification, compensation...

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GST council set to convene soon; tax simplification, compensation cess likely on agenda

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The Goods and Services Tax Council will soon meet to discuss GST simplification. Tax rate rationalisation and the future of the compensation cess are on the agenda. A Group of Ministers is examining extending the compensation cess beyond March 2026. The cess currently applies to luxury and sin goods. It is used to repay COVID-19 loans to states.

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