GST cess may fall short of Rs 1.37 lakh crore for states compensation; Centre likely to meet shortfall

The goods and services tax (GST) compensation cess fund could face a shortfall of ₹1.37 lakh crore by March 31, with the Centre looking to clear the interest of ₹50,000 crore due on the back-to-back loans taken during the Covid period, officials said. Those loans had been taken to meet the shortfall in the fund at that time. The Centre may have to pay additional final compensation of ₹13,000 crore…