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GST Council may discuss ways to gather funds for states' compensation

Faced with dismal collection and extended deadline for filing returns, the government has refrained from releasing the monthly GST revenue collection figures for the months of April and May

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On top of the highest tax slab, a cess is levied on luxury, sin and demerit goods and the proceeds from the same are used to compensate states for any revenue loss

BS Web Team PTI New Delhi

2 min read Last Updated : Jun 11 2020 | 5:58 PM IST

The GST Council will on Friday discuss the impact of Covid-19 on tax revenues and may decide on the framework for compensation payout to states, according to sources.

The 40th meeting of the GST Council, headed by Finance Minister Nirmala Sitharaman and comprising state counterparts, will be held via video conferencing.

The Council would also discuss waiver of late fees for non-filing of GST returns for the period August 2017 to January 2020.

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Although there would not be any change in tax rates, but the

Topics : GST Council GST refund GST compensation

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