TaxGuru Newsletter Subscription
Information You Can Rely On.
Goods and Services Tax - 41st GST Council meeting was held with the sole object of resolving the issue of lack of funds to compensate the states, which was initially promised to the States at the time of introduction of Goods and Service Tax Act....
Read MoreGoods and Services Tax - राज्यों की क्षतिपूर्ति का मामला आखिर क्या हुआ जीएसटी की 41 वीं मीटिंग में कोविड -19 के प्रभाव से केंद्र और राज्यों के राजस्व में भार...
Read MoreGoods and Services Tax - What is Compensation Cess :For the purpose of providing compensation to the States for any loss of revenue post GST regime, compensation cess (CC) provisions were introduced for a period of 5 years (till 30.6.2022). Following goods are covered [Schedule u/s 8(2) of GST (compensation) Act or CESS Act] on which CC would be levied […]...
Read MorePress Rel No. 635 - (31/08/2020) - As you are aware one of the most crucial fiscal issues facing the nation currently is the payment of compensation on account of the short fall in revenue post implementation of GST. Most States, and in particular Tamil Nadu, agreed to the implementation of GST and to support the legislation on the b...
Read MoreRelease ID: 1649485 - (29/08/2020) - The two borrowing options to meet the GST Compensation requirement for 2020-21 consequent to the discussions in the 41st meeting of the GST Council held on 27th August, 2020 has been communicated to States,as per the document attached with this press note, to communicate their preference within seve...
Read MoreNotification No.3/2019-Compensation Cess (Rate) [G.S.R. 708(E)] - (30/09/2019) - CBIC disallows the refund of compensation cess in case of inverted duty structure for tobacco and manufactured tobacco substitutes vide Notification No. 3/2019-Compensation Cess (Rate) dated 30th September, 2019. Refund of Compensation Cess under inverted duty structure No refund of unutilised ITC o...
Read MoreNotification No. 2/2019-Compensation Cess (Rate) [G.S.R. 707(E)] - (30/09/2019) - Seeks to amend notification No. 1/2017-Compensation Cess (Rate), dated 28.6.2017 on the recommendations of the GST Council in its 37th meeting dated 20.09.2019 to specify Changes in Compensation Cess rate on Caffeinated Beverages & Motor vehicles vide Notification No. 2/2019-Compensation Cess (R...
Read MoreNotification No. 1/2019-Compensation Cess (Rate) [G.S.R. 464(E)] - (29/06/2019) - CBIC Exempts any supply of goods by a retail outlet established in the departure area of an international airport, beyond the immigration counters, to an outgoing international tourist from goods and services tax compensation cess vide Notification No. 1/2019-Compensation Cess (Rate) dated 29th June...
Read More
Press Rel No. 635 - (31/08/2020) -
Release ID: 1649485 - (29/08/2020) -
Notification No.3/2019-Compensation Cess (Rate) [G.S.R. 708(E)] - (30/09/2019) -
Notification No. 2/2019-Compensation Cess (Rate) [G.S.R. 707(E)] - (30/09/2019) -
Notification No. 1/2019-Compensation Cess (Rate) [G.S.R. 464(E)] - (29/06/2019) -
Notification No. 6/2017-Compensation Cess (Rate) [G.S.R. 1282(E)] - (13/10/2017) -
