The compensation cess deadlock continues as even after a marathon, 8 hour-long meeting, the Centre and the States could not draw consensus on the issue of borrowing to make up for compensation shortfall. The Council would again meet on October 12 to deliberate on the same.
The GST council has also decided to extend compensation cess levy beyond June 2022 and some changes have also been made in the Option 1 given to the states. What are these changes? What all was discussed in the council meeting? Let's find out the key highlights of the 42nd GST council meeting.
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