Government collects â¹38,000 crore as GST compensation cess
Finance Minister Arun Jaitley has said the government has collected over â¹38,000 crore as GST compensation cess between July and November of last year. Of this, the Centre has released â¹24,500 crore to the states to compensate for losses suffered between July-October on account of GST rollout. Under GST regime, a cess is levied on luxury, demerit and sin goods.