https://www.taxtmi.com/news?id=19097 States' and Centre's revenue flows under GST are described with emphasis on inter-governmental settlements and the compensation framework. By way of IGST-CGST-SGST settlements amounts have been transferred to state SGST accounts and to the Centre's CGST account for inter-state trade. A compensation mechanism established by statute protects State revenues against shortfall using a 2015-16 base year and a projected growth assumption. The article identifies contributory causes for subdued GST inflows, including transitional IGST cash flow effects, lower tax incidence on many commodities, reliance on self-declared returns, and utilisation of transition input tax credits that reduce cash CGST receipts. en-us Tue, 28 Nov 2017 09:43:59 +0530 Tue, 28 Nov 2017 09:43:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19097 States' and Centre's revenue flows under GST are described with emphasis on inter-governmental settlements and the compensation framework. By way of IGST-CGST-SGST settlements amounts have been transferred to state SGST accounts and to the Centre's CGST account for inter-state trade. A compensation mechanism established by statute protects State revenues against shortfall using a 2015-16 base year and a projected growth assumption. The article identifies contributory causes for subdued GST inflows, including transitional IGST cash flow effects, lower tax incidence on many commodities, reliance on self-declared returns, and utilisation of transition input tax credits that reduce cash CGST receipts. News - Tue, 28 Nov 2017 09:43:59 +0530 https://www.taxtmi.com/news?id=19097