GST Council meet likely to be stormy as Oppn states press for compensation

The GST Council meeting on Thursday is likely to be a stormy affair as opposition-ruled states unite to pressure the Centre to give them the promised compensation for loss of revenue arising from the implementation of GST.

The 41st meeting of the Goods and Services Tax (GST) Council, to be held via video conferencing, has just one agenda for discussion -- making up for shortfall in states' revenues, sources said.

The options being explored are market borrowing, raising cess rate or increasing the number of items for levy of compensation cess.

Discussion on correction in inverted duty on certain goods