GST Council approves draft of compensation law

Updated:2 years ago IST

Udaipur (Rajasthan), Feb 18 (ANI): The Goods and Service Tax (GST) Council on Saturday formally approved the first law in connection to the Compensation law, that guarantees compensating states for loss of revenue from the tax structure. The step, taken during the 10th meeting of the GST Council, was announced by the Union Finance Minister Arun Jaitley in a press conference held in Udaipur. The Finance Minister, who heads the GST Council, said legally vetted drafts for all important bills will be presented to the council on March 4-5. The constitutional amendment containing the GST was passed in August 2016. 

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