Decoding GST: IGST cash out of states' reach

States suggest using IGST pool to meet cash crunch; problem temporary, says Jaitley

Under liquidity pressure after implementing the national goods and services tax (GST), some states wanted to leverage the credit amount in the integrated GST (IGST, amounting to Rs 37,000 crore) for using the ways and means advances (WMA) from the Reserve Bank of India (RBI). 

WMA is a mechanism used by the RBI to help states tide over temporary mismatches in cash flow of their receipts and payments.

The suggestion was made by Jammu and Kashmir Finance Minister Haseeb Drabu, among some others. It has, however, been turned down by the GST Council. Union Finance Minister Arun Jaitley explained the IGST credit