View: States are the biggest losers in GST sharing formula

View: States are the biggest losers in GST sharing formula

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GoI is uniquely positioned to raise resources in comparison to states. It must also address the growing demand to extend the GST compensation period to 10 years, given how the reality has turned out.

Synopsis

​​The track record so far of the present government toward states demonstrates a betrayal of trust so crucial not just for India’s federal polity, but also for its economic recovery.

By Rajeev Gowda & Akash SatyawaliCovid-19 is about to claim another victim — the trust that has been crucial to the establishment and effective functioning of the goods and services tax (GST) regime. GoI has reportedly told the parliamentary standing committee on finance that it does not have the funds required to honour its commitment to states to provide them GST compensation. Further, Attorney General K K Venugopal reportedly added that

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