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

At the time of implementation of the GST on July 1, 2017, the Centre had promised to compensate states for loss of revenue for five years. "If the GST compensation is withdrawn after June 30, 2022, consolidated revenue gap of states would vary between Rs 1,00,700 crore to Rs 1,23,646 crore depending on expected tax buoyancy and reliability of data sources," the report said.

from Economy-News-Economic Times https://ift.tt/35rgQ0t