The vestige of the compensation cess, which will continue on tobacco and tobacco-related items under the new Goods and Services Tax (GST) regime even after September 22, when most of the new rates are ...

New Delhi: The government on Tuesday said that the compensation cess on automobiles will cease to exist effective September 22. Currently, automobiles are subject to GST at 28 per cent, which is the ...

An estimated Rs 2,500 crore accumulated compensation cess on the books of auto companies will lapse on September 22, when the new GST rates come into effect, an official said. Currently, automobiles ...

Rating agency Icra has said that goods and services tax (GST) compensation cess would need to be re-purposed after March 2026 and energy transition or bringing petroleum, oil and lubricants (POL) into ...

The automobile industry is in a bind on the compensation cess issue and is still hoping for a reprieve from the government. The industry has already approached Prime Minister Narendra Modi and Finance ...

The government plans to introduce a new cess on tobacco and pan masala products. This move aims to prevent price drops after the GST compensation cess is phased out, ensuring these 'sin goods' remain ...

NEW DELHI: The government on Wednesday formally annulled the vestige of compensation cess on sin goods such as cigarettes and tobacco products from the Goods and Services Tax regime as decided by the ...

The cessation of Compensation Cess liability without a transitional mechanism to utilise accumulated credits could trigger significant liquidity challenges, the letter stated. FADA warned that more ...

The Goods and Services Tax (GST) cess may continue, until January 2026 for tobacco and related products, until outstanding compensation-related loans are cleared, as against the earlier projection of ...

At the time of the introduction of the GST on July 1, 2017, a compensation cess mechanism was put in place for 5 years till June 30, 2022, to make up for the revenue loss suffered by states on account ...

The Centre and states are close to agreeing on folding the GST compensation cess within the broader goods and services tax (GST), two people aware of discussions in the government said. The two sides ...

New Delhi: The Goods and Services Tax (GST) Council will meet on September 3, where it may decide to end the compensation cess much earlier than planned. The cess, which was originally scheduled to ...