After the decision of RBI, all eyes are on the meeting of the GST Council. The central government is preparing to stop the GST compensation of the states.
After the decision of RBI, all eyes are on the meeting of the GST Council. The central government is preparing to stop the GST compensation of the states. The reason for the increase in GST collection can be made. Information in this regard can be given to all the states in the next meeting.
Many important decisions regarding tax rates can be taken in the next meeting of the GST Council. Also, there is a possibility of reduction in the reliefs given during the Corona period. The central government is preparing to stop the GST compensation of the states.
The states can be informed about this by the central government in the next meeting of the GST Council. It is believed that in the next meeting of the GST Council, the central government can tell the states that now there is no need to give compensation under GST. The reason for this is increase in GST collection. The next meeting of the GST Council is proposed this month.
The central government had given a guarantee of compensation in case there is no 14 percent growth in the GST collection. Now the central government is of the opinion that since the GST collection is increasing more than the guarantee, there is no need for compensation. The same state governments including Rajasthan are demanding to extend the GST compensation beyond June 2022.
