[ad_1] The cess was originally introduced for a period of five years to compensate States for any loss arising out of the implementation of GST. File. | Photo Credit: Getty Images/iStockphoto The Ministry of Finance on Thursday (January 1, 2026) issued a series of notifications that would bring into effect the new taxation regime for tobacco […]
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[ad_1] Image for representation purpose only. | Photo Credit: R. RAGU The government has capped the maximum rate of GST compensation cess that would be levied on pan masala, cigarettes, and other forms of tobacco and linked the highest rate to their retail sale price. The capping of the cess rate was brought in as […]
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[ad_1] The levy of cess was to end on June 30 but the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising State FMs, decided to extend it till March 2026 to repay the loans taken in the last two fiscal years to make up for the shortfall in their revenue collection. The […]
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