Says trust deficit between Centre, States exaggeratedThe levy of compensation cess on Goods and Services Tax (GST) may have to be extended for quite a few years, perhaps till as late as 2025-26, to pay off States’ GST dues, Chairperson of the Fifteenth Finance Commission N.K. “On the important issue of GST compensation, the last word has not been said. Both the States and the Centre are recalibrating the contours of a consensus within the GST Council. It is for the Council to take such decisions,” Mr. Singh told The Hindu. The GST Council has decided to extend the levy beyond that period to meet shortfalls in accruals this year.

Source: The Hindu October 18, 2020 16:04 UTC