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of <h1>GST Council Approves Draft IGST Law, Debates 'State' Definition and Compensation Mechanism for States in 8th Meeting.</h1> The 8th GST Council meeting, chaired by the Union Finance Minister, addressed multiple agenda items, including sectoral presentations from banking, telecommunications, IT, civil aviation, railways, and commerce. Key discussions involved the approval of the draft IGST Law, cross-empowerment provisions for single interface under GST, and the draft Compensation Law. The Council debated the definition of 'State' concerning territorial waters, the apportionment of IGST, and the compensation mechanism for states. Amendments to previous meeting minutes were approved, and the next meeting was scheduled for January 16, 2017. The session concluded with a vote of thanks.
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