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GST Council meet: Govt to borrow Rs 1.58 trn for compensation shortfall

States' demand for the extension of the compensation period beyond June 2022 will be taken up in a separate meeting

Topics
GST Council | Goods and Services Tax | GST compensation

Dilasha Seth  |  New Delhi 



Goods and services tax, gst
The Centre has pegged the GST compensation requirement at Rs 2.7 trillion for FY22, of which Rs 1.1 trillion is expected to be met through cess collection

The Centre on Friday proposed market borrowing to the tune of Rs 1.58 trillion to compensate states for the shortfall through back-to-back loans, like last year. But several states expressed discontent, calling it “gross underestimation” of projected revenue losses.

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First Published: Sat, May 29 2021. 01:48 IST

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