Thursday, June 5, 2025
HomeEconomyCompensation cess: GoM may seek more time to submit report

Compensation cess: GoM may seek more time to submit report

-

[ad_1]

The group of ministers (GoM) on compensation cess will likely approach the GST Council, seeking an extension beyond the December 31 deadline to firm up its report, a person aware of the matter said.

The 10-member GoM under Union minister of state for finance Pankaj Chaudhary may need at least six more months to wrap up discussions and finalise the report, given the complexity of the matter, said the person. The GST Council will take a final call on the extension, most likely in its next meeting scheduled for December 21.

The GoM was set up in September to make taxation proposals to replace the compensation cess upon its abolition in March 2026. Under the GST regime, compensation cess at varied rates is imposed on luxury, sin and demerit goods on top of the 28% tax.

Nominations for ET MSME Awards are now open. The last day to apply is December 15, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award.

[ad_2]

Source link

LATEST POSTS

WitchSpin Casino: Daily ₱777 Bonus Explained

Online casinos attract players by offering exciting games and generous bonuses. One of the most popular features of WitchSpin Casino is its daily ₱777 bonus....

Gaming and Adventure Combined: The Ultimate Guide for Norwegian Tourists

For many Norwegian tourists, traveling is all about exploring new places, immersing themselves in different cultures, and seeking unforgettable adventures. But what if your journey...

Non-Disclosure Agreement for Customer Privacy Protection

In today's digital age, privacy concerns are more significant than ever, especially when it comes to safeguarding the personal and sensitive information of customers. Businesses...

How to Analyze Odds for a Spot Bet

The adrenaline rush of Spot Bet—placing wagers while the action unfolds—attracts countless sports enthusiasts seeking to capitalize on their real-time insights. Yet beneath this thrilling...

Most Popular

spot_img