Goods and Services Tax – GST – By: – Pradeep Jain – Dated:- 19-7-2017 – In order to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax, Compensation Cess is being levied on certain goods and services vide The Goods and Services Tax (Compensation to States) Act, 2017. All the provisions of the said Act have come into force w.e.f. 1st day of July, 2017. The Notification No.1/2017-Compensation Cess (Rate) dated 28th June, 2017 specifies that the Aerated waters falling under tariff head 22021010 and lemonade falling under tariff head 22021020 will be subject to compensation cess of 12%. Now, the question arises is whether the compensation cess of 12% is to be charge
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