Centre compensates states to the tune of Rs 35,000 crore

The Goods and Services Tax (GST)

The Goods and Services Tax (GST) has been implemented in the country for more than 28 months now, and the aftershocks of the regime have still not been over with tremors in the filing of the GST and the revenue generation taking a big slip in the slowing economy with a lack of appetite for consumption has been one of the major reasons for the slowdown which has ultimately affected the GST revenue collection across the country and made it dip to one of the lowest figures according to estimate disparity in the past. The compensation had been pending for the past two months by the center to the state, and as a result of the same the states were at high stressed chokepoints when it came to their financial health and some states like Maharashtra and Karnataka who have been going through various phases of election in the past year had started to feel the brunt of it as the productive activities come to a halt during the period of an election and thus to kick-start the growth momentum in these states, it was imperative that financial stimulus was pumped in and the compensation be released at the earliest.

The GST council is supposed to meet from the 18th of December 2019 and will discuss the changes in the policy system if any at the discretion of the council which is the all-powerful authority in the country to decide on the matters of GST and its forecasted growth along the lines of consumption curve and the growth potential of the market in the coming days to clinch on the exuberant estimates proposed during the budget sessions of the parliament.

 

Shreyas Tanna

About Shreyas Tanna

The winner of Mr. Pune 2009 Pageant, Mr. Shreyas Tanna is currently the young, dashing, and dynamic CEO of a market research company called Research N Reports in Pune. Fondly known as RNR, the company specializes in market research as well as industry analysis, and is closely associated with its parent company Absolute Markets Insights (AMI). Mr. Shreyas Tanna began his corporate journey as the Head of Corporate sales & PR at RED Entertainment while pursuing his degree for MMS (Marketing) from the MGM College of Management, Mumbai. After accomplishing the tedious task of balancing his work and education, he further polished his skills in Corporate Sales, Public Relations, Channel Development, Global Client Engagement, Strategic Consulting, and Brand Development by working with HDFC Life and ResearchMoz Global Pvt. Ltd. His dedication towards his work has even won him accolades such as the National Level Performer 2013 – HDFC Life and Mr. ResearchMoz 2015. A disciplined individual with a loving heart, he is often seen taking crisp walks with an engrossed look and a gentle smile within the premises of his company to interact with the various departments. And he will be usually followed by an adorable trail of his beloved trio of Shih Tzu babies proudly known as Gucci, Drake, and Paris. The most enticing thing that you will notice about this content and proud pet parent is his infectious positivity and the firm belief in his eyes, a reflection of his favorite quote, “LIFE IS BEAUTIFUL!”

View all posts by Shreyas Tanna →