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GST Compensation: Government Not In Breach Of Promise That Was Not Made, Says TV Somanathan - Exclusive
But the centre recognises the need for states to get adequate funding this year, says Somanathan.
The central government is not in breach of any promise made to states as part of the agreement on compensation for shortfall in revenue on account of the goods and services tax. That’s according to the government’s Expenditure Secretary TV Somanathan.Speaking to BloombergQuint, Somanathan said discussions that took place in earlier GST Council meetings had debated a hypothetical shortfall in compensation cess collections. “Then chair...
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