How Will Centre Pay GST Dues To States Following Delays & Revenue Shortfall?
In its latest report, SBI had estimated that the country's economy has lost Rs 38 lakh crore in the current financial year, which is 16.9% of the country's gross domestic state product i.e. GSDP. The states hoped that the central government would help them by releasing their outstanding GST money, instead the centre has advised the states to take a loan from the RBI to meet their expenditure at present. According to the figures, Maharashtra's owes Rs 22,354 crore while West Bengal owes Rs 53,000 crore as GST compensation to the center.