New Delhi: The government has notified the extension of the Goods and Services Tax (GST) compensation cess levied on items in the 28% slab till March 2026. The period of GST cess levy and collection shall be up to 31 March 2026, according to GST (Period of Levy and Collection of Cess) Rules, 2022, notified by the revenue department. The extension of cess is based on the recommendation of the GST Council. The GST Council is set to meet for two days in Chandigarh next week. In spite of demand from some states for an extension of GST compensation beyond June, the Council is unlikely to accept that as the cess is extended to 2026.

Source: Mint June 25, 2022 19:56 UTC