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Addressing uncertainty

Necessary changes in GST must be made in time

Goods and services tax, gst
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Business Standard Editorial Comment Mumbai
The completion of five years of goods and services tax (GST) in a few months will trigger a big structural change in the system. States were promised compensation against the shortfall in revenue with a growth assumption of 14 per cent for the first five years. With the completion of five years, the states will no longer be compensated. As noted by Union Finance Minister Nirmala Sitharaman this week, the compensation cess on GST will continue, but the proceeds will be used to repay the loans taken to compensate states for the revenue shortfall during the pandemic period. The compensation

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