GST Council meeting postponed

GST Council meeting scheduled on November 25 stands postponed. It is learnt that it has been rescheduled to December 2nd and 3rd. The meeting is aimed to find amicable solutions for all the pending issues of GST (Goods and Services Tax). Last month negotiations were made on a formula to compensate states for revenue loss which may occur due to the implementation of GST. 2015-16 will be consider as a base year and states will be fully compensated for revenue loss till five years.