GST Council meet begins today: Here's what's on the agenda in Chandigarh

From revising some rates to deciding on the thorny issue of compensation extension for states, here is what the Council is likely to take up

The two-day Goods and Services Tax (GST) Council meeting, which begins on Tuesday in Chandigarh, is likely to be action-packed. Shrimi Choudhary explains the issues that the Council is likely to take up:

Compensation extension

Issue: While the Centre has in-principle agreed to extend the compensation cess until March 2026 for repaying debt, many states are seeking at least two-year extension of the regime citing revenue shortfall. The cess, meant to compensate states for GST-linked loss of revenue, is to end on June 30, 2022. 

Expected: The Council is unlikely to consider states’ demand for status quo as official data