CURRENT AFFAIRS

2023

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which state has become the second one among dissenting states/UTs to take up centre’s option to borrow Rs 1.1 lakh crore to meet GST compensation shortfall?
A
Kerala
B
West Bengal
C
Chhattisgarh
D
Rajasthan
Explanation: 

Detailed explanation-1: -At least 10 States may fall short of the expected 14% GST growth, says the study. Puducherry, Punjab, Delhi, Himachal Pradesh, Goa and Uttarakhand likely to be most affected by the end of the compensation regime.

Detailed explanation-2: -GST Collection for December 2022 State-wise Just like in November 2022, Maharashtra posted the highest GST collection for December 2022 in absolute terms at Rs. 23, 598 crore.

Detailed explanation-3: -Maharastra posted the highest state-wise GST collections for September 2022 at Rs. 21, 403 crore. It is followed by Karnataka, Gujarat, Haryana and Tamil Nadu.

Detailed explanation-4: -As per Section 18 of the Constitution (101st) Act, 2016, Parliament “shall, by law, on the recommendation of the GST Council, provide compensation to States for loss of revenue arising on account of implementation of the Goods and Services Tax for a period of five years from the date of its implementation.”

There is 1 question to complete.