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Informative
FM Nirmala Sitharaman Clarifies GST Compensation Cess Extension in Lok Sabha
Update / Judgement Date
07 Aug 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
GSTPSU's AND Govt. Undertakings
Finance Minister Nirmala Sitharaman clarified in the Lok Sabha that the GST Compensation Cess will be extended beyond June 2022 to repay loans taken to compensate states for revenue shortfalls. The cess will continue until the entire compensation and interest liabilities are met. This extension addresses concerns from states about revenue losses and ensures that the central government can fulfill its financial commitments.
