<h1>Assocham Proposes 1-2% GST Increase Over Cess to Compensate States for Revenue Losses.</h1> Industry chamber Assocham has urged the Finance Minister to increase the GST rate by 1-2% instead of imposing a cess to compensate states for potential revenue losses with the new GST regime. Assocham argues that a cess would distort and cascade taxes. The proposed GST structure includes rates of 8%, 12%, 18%, and 26%, with a possible cess on demerit goods. Assocham suggests zero tax on essential commodities and specific rates for other goods, such as 6% on processed foods and 26% on luxury items. The GST Council is set to finalize rates in early November.