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of <h1>Indian Government Discusses Extending GST Compensation to States Beyond Five Years After Successful Revenue Reforms.</h1> Under the Constitution (One Hundred and First Amendment) Act, 2016, the Indian government is mandated to compensate states for revenue losses due to GST implementation for five years. The Union Minister of State for Finance reported that discussions on GST compensation and resource augmentation occurred during the 45th GST Council meeting. Two Groups of Ministers were formed to address system reforms and rate rationalization. Recent GST reforms have led to increased revenue, with a 37% rise in average monthly collections for Q1 of FY 2022-23 compared to the previous year. Some states have requested extending compensation beyond the five-year period.
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