As we know, the Goods and Services Tax (i.e., GST) is a consumption-based tax. Due to this many manufacturing States will obviously face a loss of revenue. Consequently, ‘GST Compensation Cess’ is levied as per provisions of section 8 of the Goods and Services Tax (Compensation to States) Act, 2017. Accordingly, the Goods and Services Tax
July 1, 2022