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LATEST NEWS UPDATES | Govt blames Covid, but payment stalled year ago -Aanchal Magazine

Govt blames Covid, but payment stalled year ago -Aanchal Magazine

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published Published on Aug 28, 2020   modified Modified on Aug 28, 2020

-The Indian Express

The economic slowdown, which has been underway for almost three years now, began to adversely impact GST revenue collections in August last year.

While the Centre Thursday chose to pin much of the blame for the delays on GST compensation payments to the slowdown inflicted by the pandemic, the delays preceded the Covid-19 shock by almost a year – when payments due for August-September 2019 got delayed. Since then, all subsequent payouts have seen cascading delays.

The economic slowdown, which has been underway for almost three years now, began to adversely impact GST revenue collections in August last year. Sequentially, the GDP growth rate slowed from 5.2 per cent in April-June 2019 to 4.4 per cent in July-September and further to 4.1 per cent in October-December, and to 3.1 per cent in January-March.

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The Indian Express, 28 August, 2020, https://indianexpress.com/article/business/economy/covid-19-gst-coronavirus-centre-state-6572818/


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