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The goods and services tax (GST) compensation cess, which expires in March 2026 or before, may be replaced with a new levy if the GST Council believes more money is required, according to two individuals familiar with discussions between the Centre and states.
The cess, which is paid on products under the 28% GST slab, such as aerated drinks, tobacco, and autos, was intended to compensate states for revenue losses in the first five years of GST up to June 2022. The Centre's ₹2.69 trillion debt was prolonged until March 2026 due to insufficient cess collection during the pandemic years.
The cess may end even before March 2026 if the Centre is able to repay the debt. “If before March 2026 we are able to pay all the loans and pay some of the compensation due to be paid because of non-receipt of audited figures from some of the states, the compensation cess cannot be levied beyond that," one of the persons cited above said on condition of anonymity.
Also Read : DGTR Pushes Safeguard Duty to Shield Steel Industry Maharashtra, Karnataka, UP lead in GST cess collections
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