With the sunset of the five-year assured compensation for States under the Goods and Services Tax (GST) regime from this month, Punjab, Goa and Chhattisgarh are likely to face the most revenue stress, as per a new working paper by the National Institute of Public Finance and Policy (NIPFP).
The paper, titled ‘Revenue Assessment of GST in India’ by NIPFP associate professor Sacchidananda Mukherjee, notes that revenue collections from the GST regime have fallen short of expectations for both the Centre and the States, but the former made up for this by raising non-shareable taxes and levying cesses on commodities such as petroleum products.
Also read: The status of GST compensation dues
