States’ GST revenue shortfall may be lower by up to Rs 40,000 cr this fiscal

The GST revenue shortfall faced by states is likely to reduce by about Rs 40,000 crore in the current fiscal on improved collections over the past four months, an official said. The sharp decline in GST collections was estimated to lead to Rs 1.80 lakh crore shortfall in GST revenues of states. This includes Rs 1.10 lakh crore revenue loss on account of GST implementation and Rs 70,000 crore on ac…