Approval for providing CST loss related compensation to States for the loss incurred in FY 2010-11

Last updated: 10 February 2011

Approval for providing Central Sales Tax loss related compensation to States for the loss incurred in FY 2010-11

The Union Cabinet has approved a proposal for providing Central Sales Tax (CST) loss related compensation to States for the loss incurred in FY 2010-11. The Cabinet has also approved to make on account payment of compensation to the States, pending finalization of the guidelines, for revenue loss incurred by States in year 2010-11 because of reduction in CST rate.

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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