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Oct 20, 2016
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GST Council nears consensus on new cess on ‘sin’, luxury goods
The chances of the Centre finding resources for compensating the states’ revenue losses in the goods and services tax (GST) regime through a new cess on luxury and “sin” goods appeared brighter on Wednesday after most states veered towards the North Block proposal at the GST Council meet here. While many states had first denounced the idea and some like Kerala argued that it would necessitate a GST rate more benign than feasible on demerit items, the Centre pleaded that the increase in burden on taxpayers owing to the cess would be less than from a higher demerit GST rate.
Source -
http://www.financialexpress.com
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