The Goods and Services Tax (GST) Council is scheduled to meet this month. The GST Council (GST Council) meeting can be held at any time in August. The sole agenda of this meeting will be on measures to meet the compensation needs. Apart from this, there is also a possibility to discuss three top suggestions to increase the compensation fund in the meeting.
According to the current GST rate structure, some sin goods, which include cigarettes, pan masala, and aerated drinks, attract cess. Apart from sin goods, cess is also imposed on luxury products like cars. Currently, pan masala attracts 100 percent cess and as per the cess rules, the cess can be increased up to 130 percent. This means that if the GST Council takes this decision, then there will be a 30 percent cess rate on pan masala.