GST compensation: Is Nirmala Sitharaman’s new plan a looming crisis for some states?

On September 18, 2021, finance minister Nirmala Sitharaman made two important  announcements  related to the Goods and Service Tax, or GST. First, she extended the existing GST compensation cess on select goods till March 2026. Second, she confirmed that the GST compensation funding to states will stop in June 2022, as per the original timeline decided when the GST regime was introduced…