With the GST reforms now in place, the biggest demand from states is how they will be compensated for the revenue loss incurred, said Harpal Singh Cheema, Punjab's finance minister, at the NDTV Profit GST Conclave on Tuesday. The compensation cess was levied to compensate states for the loss that states would incur in 2017 for a period of five years. Post that, states are seeing continuous loss, Cheema said, adding that states' losses despite full compliance are an indication that there are still faults in the system. With states too running multiple welfare schemes, the Centre will have to guide states till their economy stabilises, he said at the conclave, adding that states too wanted rate reductions but state economies need to be kept in mind
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India adds roughly 19-22 lakh net payroll subscribers every month, with nearly 60 per cent of new members belonging to the 18-25 age group.
Forest Minister Jayanta Malla Baruah said forest royalty and GST are closely connected, making coordination between the two departments crucial.
Assam has emerged among the top performing major states in the country in terms of monthly GST growth, reflecting improving economic activity and stronger revenue administration.
GST collections hit an all-time high of Rs 23.11 lakh crore in FY 25-26. April 2026 alone brought in a record Rs 2.42 lakh crore.
In a joint operation that included raids across Assam, Bihar and West Bengal, a Special Task Force (STF) and GST officials busted the network accused of committing fake Input Tax Credit (ITC) fraud.
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मोदी सरकार के 12 साल: कैसे तय होगा 10 ट्रिलियन डॉलर वाली अर्थव्यवस्था बनने का सफर, अब तक क्या हुआ
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Wednesday October 22, 2025Amidst all the hoopla, it is the State governments that truly deserve recognition for coming together for the GST revision. Because the States are the ones bearing the brunt of massive revenue losses.
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Friday September 19, 2025Away from politics, floods, rain-related tragedies and the Trump tariffs, there is optimism in the air. With GST rationalized, inflation in control, the upcoming festival season promises good times.
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