Finance Ministry Confirms That Some States Have Sought Extension Of GST Compensation For A Further Period Of Five Years.

The Finance Ministry has confirmed that some states have sought extension of GST compensation for a further period of five years. As per section 18 of the Constitution (One Hundred and First Amendment) Act, 2016, Parliament shall, on the recommendation of the GST Council, provide for compensation to the States for loss of revenue arising on account of the GST for a period of five...