The GST compensation shortfall for 2021-22 is estimated to be Rs 2.69 lakh crore. The GST compensation shortfall for 2021-22 is estimated to be Rs 2.69 lakh crore. The balance Rs 1.58 lakh crore will need to be borrowed to meet the promised compensation to states under the GST regime, according to the agenda note shared ahead of Friday’s GST council meeting. The Budget has assumed 17 per cent growth in GST revenues, translating into monthly gross GST revenue of Rs 1.1 lakh crore. Another scenario has been presented wherein if the monthly GST revenue is estimated to be Rs 1.15 lakh crore, the actual gap would be Rs 1.25 lakh crore.

Source: Indian Express May 26, 2021 20:37 UTC