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GST compensation debts
June 6 , 2022
895 days
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- The Central government has passed Rs 86,912 crore to state governments, the SGST (State Goods and Services Tax) to compensating them for the GST.
- Following the implementation of the GST on July 1, 2017, the government expected yearly revenue growth of 14%.
- To compensate states for lost revenue, a cess was imposed on a variety of luxury items and so-called sin goods to raise funds.
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