Rs 20,000 crore surplus in GST compensation cess fund as of end-March

The Centre has a surplus of Rs 20,000 crore in the  GST cess fund as of March 31 which will be used to compensate the states for revenue shortfall suffered due to the roll out of the Goods and Services Tax. In the last fiscal, the government collected Rs 62,021 crore as cess on sin and luxury goods. This amount will make up for the compensation kitty used to make good for any revenue shortfal…