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States stare at over Rs 1 lakh cr revenue gap post withdrawal of GST compensation

States stare at over Rs 1 lakh cr revenue gap post withdrawal of GST compensation

Sunday, January 5, 2020, 7:40 PM

States might be facing a consolidated revenue gap of up to Rs.1.23 lakh-crore on account of withdrawal of compensation after the five-year GST transition period ends on June-30, 2022, says a report by economic think tank NIPFP. At the time of implementation of the GST on July-1, 2017, Centre had promised to compensate states for loss of revenue for five-years at an agreed formula.
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