CBIC has issued Notification No. 1/2022–Compensation Cess dated 24.06.2022 to recommend rule called Goods and Services Tax (Period of Levy and Collection of Cess) Rules, 2022 to be effective from 01.07.2022. The rule extends the period for levy and collection of Compensation Cess under Section 8(1) of the Goods and Services Tax (Compensation to States) Act, 2017, up to the March 31, 2026.
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Source: Notification no.1/2022-Compensation Cess dated 24.06.2022
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