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States Receive Rs. 8,000 cr. for GST-Related Revenue Shortfall
October 16, 2017
Revenue Secretary Hasmukh Adhia said that the government has released Rs. 8,000 crores to the states for their revenue collection shortcomings during the July-August period due to GST related issues. He said that the decision was made because save for “one or two” states all asked for constitution-provided succor.
Adhia said that it’s important to implement the GST system sooner than later even though the GST council was open to giving relaxation in terms of extending the deadline for GST returns filing. He also said that the council is reviewing the policies and may give leeway to a large number of businesses by allowing them to file their returns on a quarterly or half-yearly basis instead of monthly basis.
