The Rs 97,000 crore twist in #GST Compensation Cess Case
The constitutional amendment states that compensation shall be provided to the States
"...for loss of revenue on account of implementation of the goods and services tax..."
The centre has interpreted this narrowly...
The centre estimates Rs 3 lakh crore payable to the states as compensation this fiscal.
Due to low tax revenue collection it expects to face a compensation cess shortfall of Rs 2.35 lakh crore.
But it attributes most of this to Covid and claims the loss due "implementation of GST" (see constitutional amendment in first tweet) is only Rs 97,000 crore.
It computed this based on previous shortfall data.
Supreme Court slams government for not making recoveries pursuant to AGR judgment.
Justice Arun Mishra: How can desk officer say no recovery will happen ? Can a desk officer now stay the order of the Supreme Court? Who is this desk officer ? Let us wind up this Supreme Court
Justice Mishra to SG: Your desk officer has the temerity to sit over our order and stay our order?
Is this an outcome of the money power ? If not then what is this?