States may face ₹1.23 trillion revenue gap post withdrawal of GST compensation

NEW DELHI  : States might be facing a consolidated revenue gap of up to  ₹1.23 trillion on account of withdrawal of compensation after the five-year GST transition period ends on June 30, 2022, says a report by economic think tank NIPFP. At the time of implementation of the Goods and Services Tax (GST) on July 1, 2017, the Centre had promised to compensate states for loss of revenue…