<h1>Union finance minister says GST rate cuts won't require state compensation; revenue impact to be equally shared</h1> The Union finance minister announced that recent GST rate cuts will not trigger compensation to states, asserting the revenue impact will be shared equally between the Centre and states and rejecting a donor-donee relationship within the GST Council. She explained that a significant portion of the Centre's GST receipts is devolved to states, so both levels of government will be affected by revenue shortfalls. State ministers had raised concerns about potential losses; the Council agreed to the cuts, which aim to close classification loopholes and take effect on September 22, with projected economywide stimulus.