India’s federal government told a parliamentary panel it may not be able to pay states GST compensation dues because of a drop in tax collections amid the Covid-19 outbreak, the Economic Times reported, citing people it didn’t identify.
- Statement made by finance ministry officials to the parliament’s standing committee on finance on Tuesday: the report
- GST collections down to 1.85 trillion rupees ($24.7 billion) in first three months of fiscal year from 3.14 trillion rupees a year earlier, it said
- NOTE:
Virus-Ravaged States in India Clamor for More Funds From Modi
To contact the reporter on this story:
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.