Centre anticipates GST compensation cess of Rs 70,000 crore: Report
Sat, Jun 22, 2024 4:09 PM

Centre anticipates GST compensation cess of Rs 70,000 crore: Report

A Flip by Riya Sharma
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The Centre is expected to receive an additional Rs 70,000 crore from the GST compensation cess, over and above the amount needed to repay loans taken during the Covid era. This is due to strong GST collections, with cess collections exceeding expectations. The cess, which is levied on "sin goods" such as pan masala, cigarettes, and cars, has brought in Rs 1.45 lakh crore in FY24.

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