GST Compensation
States are seeking an extension of GST compensation for five more years.
Reason for Demanding Extension
- Pandemic Effect: States say their revenue situation is yet to improve on two counts — due to the introduction of the GST and because the pandemic has affected revenue collection.
- Higher Expenses: At the same time, their expenses have gone up and they expect higher deficit as revenue growth is low.
About GST Compensation
- The Constitution (One Hundred and First Amendment) Act, 2016, was the law which created the mechanism for levying a nationwide GST.
- It provided to compensate the States for loss ....
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