More GST funds for states: New imposts, cess hikes preferred ways

The Goods and services tax (GST) Council, at its next meeting likely by the end of this month, will devise a mechanism on how additional funds would be found to bridge the states’ GST ‘revenue shortfall’, given that the designated corpus has fallen short of the requirement, according to official sources. The obvious options are to restructure the GST slabs and raise the aggregate rate to the reven…