Finance Minister Nirmala Sitharaman asserted, at what may have been the most tenuous GST Council meeting so far, that the
Centre will not be able to meet the compensation shortfall. With GST collections sharply undershooting all targets this year, the Centre estimates compensation payable for the full year at ₹3-lakh crore. But just ₹65,000 crore is expected in the cess kitty used to pay out the compensation.
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Unknown title to the States, for a period of five years, compensation for revenue shortfalls in return for their having ceded the power to levy the multiple taxes that were subsumed into the GST. Last week, <span>Finance Minister Nirmala Sitharaman asserted, at what may have been the most tenuous GST Council meeting so far, that the Centre will not be able to meet the compensation shortfall. With GST collections sharply undershooting all targets this year, the Centre estimates compensation payable for the full year at ₹3-lakh crore. But just ₹65,000 crore is expected in the cess kitty used to pay out the compensation. In July, the Centre paid out the last instalment of compensation for the last fiscal and is, so far, yet to pay anything for this year. States have now been given two options, both requ Summary
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