First payment for FY22 GST shortfall goes out: Rs 75,000 crore

The first batch of payment to states and Union Territories amounting to Rs 75,000 crore to meet compensation shortfall under Goods and Services Tax (GST) for financial year 2021-22 was released on Thursday. This is part of the mechanism agreed upon between Centre and states after the  Covid-19   pandemic  through which back-to-back loans are made to states to meet the compensation s…