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LATEST NEWS UPDATES | States stare at over Rs.1 lakh crore revenue gap post withdrawal of GST compensation

States stare at over Rs.1 lakh crore revenue gap post withdrawal of GST compensation

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published Published on Jan 6, 2020   modified Modified on Jan 6, 2020
-PTI

At the time of implementation of the Goods and Services Tax on July 1, 2017, the Centre had promised to compensate states for loss of revenue for five years at an agreed formula

States might be facing a consolidated revenue gap of up to Rs.1.23 lakh crore on account of withdrawal of compensation after the five-year GST transition period ends on June 30, 2022, says a report by economic think tank National Institute of Public Finance and Policy (NIPFP).

At the time of implementation of the Goods and Services Tax (GST) on July 1, 2017, the Centre had promised to compensate states for loss of revenue for five years at an agreed formula.

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The Hindu, 5 January, 2020, https://www.thehindu.com/business/states-stare-at-over-1-lakh-crore-revenue-gap-post-withdrawal-of-gst-compensation/article30484467.ece?homepage=true&fbclid=IwAR2WkdrFA


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