MoS Finance Pankaj Chaudhry likely to Convene New GoM on GST Compensation Cess

Minister of State for Finance Pankaj Chaudhry is expected to convene a new Group of Ministers (GoM) to address the GST compensation cess issue. With states demanding compensation for revenue shortfalls caused by the transition to GST, this group will explore ways to extend compensation timelines or introduce alternative revenue mechanisms. This move reflects the ongoing friction between the central government and states over revenue distribution and underscores the importance of intergovernmental collaboration in managing GST-related concerns.