FY’22 GST compensation shortfall estimated at Rs 2.69 lakh crore

  • May 27, 2021
  • CA Chandan Agarwal's Office

The Centre expects to collect over Rs 1.11 lakh crore through cess on luxury, demerit and sin goods which will be given to the states to compensate them for the shortfall in revenue arising out of GST implementation.

The shortfall in GST compensation payable to states in the current fiscal is estimated at Rs 2.69 lakh crore, of which Rs 1.58 lakh crore would have to be borrowed this year.

The Centre expects to collect over Rs 1.11 lakh crore through cess on luxury, demerit and sin goods which will be given to the states to compensate them for the shortfall in revenue arising out of GST implementation.

Read more at:
https://economictimes.indiatimes.com/news/economy/finance/fy22-gst-compensation-shortfall-estimated-at-rs-2-69-lakh-crore/articleshow/82984055.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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