GST Council Meet Highlights: Nirmala Sitharaman says special window by RBI an option to compensate states

The states would have had a fair idea of what is coming their way considering the opinion of Attorney General was clear that the centre is not liable to pay for the compensation. However, the bifurcation of the shortfall as due to GST and due to Covid would have not been expected. The decision making has again been postponed by another 7 working days. However, it is disappointing that the exercise is being done only for the current fiscal when it is obvious that the recovery is not going to be steep and the shortfall would extend to the next fiscal as well. — Divakar Vijayasarathy, Founder and Managing Partner, DVS Advisors LLP