TFP Bureau, Raipur, December 2, 2024: The future of compensation cess under the Goods and Services Tax (GST) took center stage during a crucial GST Council meeting held today at Madhya Pradesh Bhawan, New Delhi. The meeting, chaired by the Union Minister of State for Finance, witnessed the participation of finance ministers and senior officials from various states.
Chhattisgarh Finance Minister Shri OP Choudhary played a pivotal role in the deliberations, presenting significant suggestions aimed at enhancing the GST system. Accompanying him was Finance Secretary Mukesh Bansal.
Key topics included the need for greater transparency and efficiency within the GST framework. A Group of Ministers, comprising representatives from Assam, Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh, Punjab, Tamil Nadu, Uttar Pradesh, and West Bengal, will review and propose reforms.
The GST Council, a constitutional body tasked with harmonizing indirect taxation across India, will ultimately decide on the recommendations put forth. The meeting emphasized cooperative federalism in strengthening the nation’s taxation policies.
The active participation of Chhattisgarh underscores the state’s commitment to improving fiscal governance and ensuring equitable economic policies for all stakeholders.
