CAG: Centre broke the law, used funds for GST compensation elsewhere

Citing the opinion of the Attorney General of India, Finance Minister  Nirmala Sitharaman  told Parliament last week that there was no provision in the law to compensate states for loss of GST revenue out of the Consolidated Fund of India (CFI). However, the Comptroller and Auditor General (CAG) of India has found that the government itself violated the law by retaining Rs 47,272 crore o…