India, Jan. 14 -- In the backdrop of the collection under the Goods and Services Tax (GST) not coming up to the expected level and the consequential inability of the Central Government to meet its obligations towards compensation to the States as committed under the GST Compensation Act, 2017 (it provides for compensation for five years i.e. till 2021-22 to be calculated as the difference between actual collection and the revenue it would have got with growth at four per cent over the 2015-16 level), the GST Council is undertaking a comprehensive review of the existing rate structure and the implementation mechanism.

Meanwhile, a contentious issue that mandarins in the GST Council will need to urgently look at relates to the treatment of...