Goods and Services Tax : Understand implications of extension of GST Compensation Cess period till 2026 and its impact on state revenues. Analyze distribut...
Goods and Services Tax : The 49th GST Council Meeting took decisions on GST Compensation, Taxation, and Special Composition Scheme. Read an overview of the...
Goods and Services Tax : Government extends GST Compensation Cess levy till 31.03.2026. Learn about the implications and new rules in this important move....
Goods and Services Tax : Changes in Compensation Cess Rate Notification w.r.t. supply of certain goods from January 01, 2022 to align it with HS 2022 Backg...
Goods and Services Tax : INDUSTRY WISE ANALYSIS OF GST RATE NOTIFICATIONS APPLICABLE FROM 1ST OCTOBER 2021 Notification No. 06/2021 – Central Tax (Ra...
Goods and Services Tax : Few States have requested for extension of payment of GST compensation beyond transition period of five years. As per Section 18 o...
Goods and Services Tax : GST compensation to States for loss of revenue arising on account of implementation of GST for a period of five years As per secti...
Goods and Services Tax : Goods and Services Tax was introduced in the country w.e.f. 1st July, 2017 and States were assured for compensation for loss of a...
Goods and Services Tax : ₹ 2.78 lakh crore of compensation released to States for the year 2020-21 itself ; nothing is pending for the year Centre releas...
Goods and Services Tax : Final GST Compensation due to States is calculated on the basis of the revenue figures certified by the Accountant General of the ...
Goods and Services Tax : Goods which are subject to nil rate of cess would be construed as exempt supplies for purposes of formula prescribed Rule 89 (4) o...
Goods and Services Tax : In re Parse Kente Collieries Limited (GST AAR Chhattisgarh) i. Compensation Cess is leviable on the total quantity of raw coal rai...
Goods and Services Tax : G. Sundarrajan Vs Union of India (Madras High Court) The issue under consideration is whether compliance of Goods and Services Tax...
Goods and Services Tax : CBIC exempt Compensation cess on supply of aerated beverages and energy drinks to authorised customers by Unit Run Canteens under ...
Custom Duty : Read Notification No. 27/2024-Customs dated 12th July, 2024, exempting SEZ imports from CGST compensation cess under Customs Tarif...
Goods and Services Tax : CBIC notifies rate changes in Compensation Cess for Pan Masala and Tobacco Products as per 50th GST Council Meeting vide Notificat...
Custom Duty : Analysis of Circular No. 16/2023 -Cus on Supreme Court's judgment on 'pre-import condition' and its implications on IGST & Compens...
Goods and Services Tax : CBIC further amend notification No. 1/2017-Compensation Cess (Rate), dated 28th June, 2017 vide Notification No. 2/2023-Compensati...
GST (Compensation to State) Act, 2017 (Act No.15 of 2017) In this Article Author compiled GST (Compensation to State) Act, 2017 with all notification / Acts issued and changes which occurred till Till 30th June 2020. Books contains all Section of GST (Compensation to State) Act, 2017. Book is Updated by By Ghanshyam Upadhyay and […]
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 […]
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 of compensation cess would be allowed in case of Tobacco and manufactured tobacco […]
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 (Rate) dated 30th September, 2019. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) […]
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, 2019.
In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 8 of the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue)
G.S.R. (E).- In exercise of the powers conferred by sub-section (2) of section 8 of the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017), the Central Government, on the recommendations of the Council
In this regard section 8 of the Goods and Services tax (Compensation to States) Act, 2017 hereinafter referred to as [GSTC Act, 2017] provides for levy and collection of Compensation Cess and reads as under
Seeks to appoint the 1st day of July, 2017, as the date on which all the provisions of Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017) shall come into force
