Automobile Dealers Association Moves Supreme Court Over Compensation Cess Lapse After GST 2.0 Reforms, Claims Loss Of Rs.2500 Cr

The Federation of Automobile Dealers Association has moved the Supreme Court seeking relief related to compensation cess input tax credit worth Rs.2500 crores, which stands locked in dealers ledgers as a consequence of recent revision in the Goods and Services Tax (GST) framework.Briefly put, a notification issued on September 17 scrapped the compensation cess on motor vehicles. This was done,...