Revenue analysis and revenue augmentation measures, coming in the backdrop of delayed compensation payments to states, will be the primary areas of discussion in the 38th Goods and Services Tax Council meeting Wednesday. Though the Council has refrained from listing any major tinkering of rate slabs in the official agenda, it is expected to correct inverted duty structure (when tax on inputs is higher than the final product) of several items such as fabrics, solar modules, railway locomotives either by a rate hike or tweaking conditions for input tax credit. Compliance measures and a hike in compensation cess may also get discussed, even as several states have already raised concerns against any significant rate tweak amid the slowdown.
