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No consensus to make up for GST shortfall of states, says FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday addressed the media on a meeting of the Goods and Services Tax (GST) Council that was to settle a dispute between the union government and states governed by Opposition parties over GST compensation owed to state governments for fiscal 2021. Ten states, which are governed by parties not part of the National Democratic Alliance, have rejected the finance ministry’s proposal that the state governments should borrow to meet the shortfall in GST revenue and have demanded the setting up of a dispute settlement mechanism.

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