Falling GST collections: Parliamentary panel asks Centre to address issue

The parliamentary standing committee on finance has asked the Centre to address the issue of dwindling goods and services tax (GST) collections, which the finance ministry blamed for delay in the compensation to the states. It has also asked the government to prevent misuse of input tax credit (ITC) and take measures for increasing GST compliance.

The Centre has paid Rs 45,745 crore as compensation to states for their revenue loss under GST for the first four months of the current financial year, showed the data given by the committee.  

Compensation is paid by the Centre to states once in