The Centre has released GST Compensation worth Rs.35,298 Crore to states and union territories which was due to the states since August 2019. When GST was rolled out, Centre promised compensation of about 14 percent to states for making the revenue loss good. This compensation was collected by levying cess on tobacco products, cigarettes, aerated water, automobiles, and coal. GST collections came in at Rs 1,03,492 crore in November, according to official data released this month. The Indian economy is going through a slowdown and announced measures from withdrawal of higher taxes on foreign investors to cut in corporate taxes to spur investments and push growth.
