Levy of Compensation Cess is extended up to 31st March, 2026: Notification
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- By Chetan Kulasri
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- Last Updated on 27 June, 2022
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Notification No. 1/2022–Compensation Cess dated June 24th, 2022
The Compensation Cess was initially imposed for five years i.e. up to June 2022 on specified goods. This period has further been extended up to March 31, 2026. The Compensation Cess is levied for compensating the states for losses arising from GST implementation. In this regard, notification has been issued and Goods and Services Tax (Period of Levy and Collection of Cess) Rules, 2022 are notified which shall be effective from July 1st, 2022.
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