Question
The Centre has extended the GST Compensation Cess till
March 31, ________.Solution
The Centre has extended the GST Compensation Cess till March 31, 2026. The extension, which was earlier approved by the GST Council, is necessary to repay the principal and service the interest cost of the loans taken in FY21 and FY22 to compensate states for the shortfall in guaranteed GST revenues.
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