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 ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Buy February 2022 Issue

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Related Content

Economy Watch