GST CESS - Credit to be Allowed
THERE was an opinion circulating that there will be no input credit of GST Cess and that the Cess will be levied at only the first stage, but the draft GST (Compensation to the States for Loss of Revenue) Bill, 2016 has clarified this position that the input tax credit in respect of GST Compensation Cess on supply of goods and services leviable, shall be utilised only towards payment of GST Compensation Cess on supply of goods and services.