Step 5: Add any applicable cess over and above GST on certain goods like aerated drinks, luxury cars etc. Let us understand GST calculation with an example: Raj sold goods worth ₹100,000 to a ...

For businesses producing or selling goods and services subject to GST cess, compliance requirements become more complex. They must accurately calculate and collect cess in addition to regular GST ...

Select suppliers who provide taxable goods or services are subject to reverse GST (Goods and Services Tax). The recipient of ...

GST Council to discuss rate rationalisation, simplification, and future of compensation cess in upcoming meet. Key proposals ...

Finance Minister Arun Jaitley said on Wednesday that the cess over and ... the government's own calculations, shared in the council's last meeting agenda, the proposed GST rate structure would ...

The Finance Ministry has initiated the exercise amid the ongoing process of rationalising the GST structure to enhance ...

The government has extended the time for levy of GST compensation cess by nearly 4 years till March 31, 2026. As per the Goods and Services Tax (Period of Levy and Collection of Cess) Rules ...

The Goods and Services Tax Council will soon meet to discuss GST simplification. Tax rate rationalisation and the future of ...

(ANI) “First of all, the GST council has already extended the compensation cess to up to March 2026 ... would have to endure due to the new calculations of the 15th Finance Commission that ...

Rating agency Icra has said that goods and services tax (GST) compensation cess would need to be re-purposed after March 2026 and energy transition or bringing petroleum, oil and lubricants (POL ...

to decide the future of the GST compensation cess, data show that the tax component contributes substantially to the government coffers and merits continuation in new form once its levy ends in ...