What the Centre and state govts disagree on GST compensation row
September, 05th 2020
The Goods and Services Tax (GST) compensation to the states has been in the news lately, with most people confused about what the issue is, what the amounts in question are, how they are calculated, and what the Centre’s duty is. Here’s a quick breakdown of the relevant details.
What is GST compensation? One of the main reasons the states agreed to get on board with a nationwide GST was because the Centre promised to fully compensate them for any losses that might arise from the implementation of GST for the first five years. This compensation is to be paid from a ...