Business Standard

Punjab likely to lose Rs 15K crore in FY23 as GST compensation ends

At the Council meeting in Chandigarh, states may call for extending compensation deadline


The loss at the lower end comprises 14.7 per cent of the total projected revenue receipts of Punjab during FY23. Photo: Shutterstock

Indivjal Dhasmana New Delhi
A day ahead of the Goods and Services (GST) Council meeting, Punjab has estimated that its loss from the end of the compensation regime would be Rs 14,000-15,000 crore during the current fiscal year.  

The two-day meeting of Union and state finance ministers will be held in Chandigarh from Tuesday.

“As the GST compensation regime is ending in June 2022, the state government would be staring down a big hole left in its finances to the tune of Rs 14,000-15,000 crore in FY23,” Punjab finance minister Harpal Singh Cheema said in his Budget speech on Monday.

He termed it a

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First Published: Jun 27 2022 | 8:43 PM IST

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