https://www.taxtmi.com/news?id=53949 Opposition-ruled states object to the Centre's GST rate rationalisation as causing substantial state revenue loss and demand compensation to preserve fiscal stability. They propose an additional duty on sin and luxury goods with proceeds distributed to states, a five-year transitional compensation period, fixing 2024-25 as the base year for revenue protection, and using loans secured against future levy receipts if deficits remain. They also seek an anti-profiteering mechanism to ensure benefits reach consumers. en-us Fri, 29 Aug 2025 14:31:03 +0530 Fri, 29 Aug 2025 14:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=53949 Opposition-ruled states object to the Centre's GST rate rationalisation as causing substantial state revenue loss and demand compensation to preserve fiscal stability. They propose an additional duty on sin and luxury goods with proceeds distributed to states, a five-year transitional compensation period, fixing 2024-25 as the base year for revenue protection, and using loans secured against future levy receipts if deficits remain. They also seek an anti-profiteering mechanism to ensure benefits reach consumers. News - Fri, 29 Aug 2025 14:31:03 +0530 https://www.taxtmi.com/news?id=53949