Revenue and compensation on table at GST Council meeting on Friday

The GST Council meeting on Friday will have two objectives — addressing the government’s grim revenue position amid the pandemic and fixing the compensation mechanism for the states — given the background of a shortfall in goods and services tax (GST).

The government has rung up just about Rs 95,000 crore as GST in April and May together, and that is less than half compared with the collection in the corresponding months last year.

With the dwindling collection of cess, which goes into the compensation fund, the council will discuss alternative means such as borrowing from the market and extending the cess