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State GST collection showing improvement compared to last year: Arun Jaitley
Expressing satisfaction with GST collection trends, the Centre on Friday said the states were on the path of meeting their revenue targets by themselves, thereby not needing compensation from the Centre after the five-year period of its implementation.
After a GST Council meeting here, Jaitley said the emerging trend in every state showed that the GST collection was better this year (till August) compared to the last year.
Jaitley said the deficit in revenue collection targets of states under the GST came down to 13 per cent till August this year compared to 16 per cent last year. Meanwhile, the GST Council on Friday decided to set up a seven-member Group of Ministers (GoM) headed by Bihar Deputy Chief Minister Sushil Modi to look into Kerala’s demand for imposing an additional cess over GST to meet the financial requirements in case of a natural calamity.
The GoM, set up to examine the “modalities for revenue mobilisation in case of natural calamities and disasters,” would submit its recommendations by October 31.