States Project Massive Revenue Shortfalls Under Proposed GST Restructuring
Major Indian states have raised formal objections this week, projecting annual revenue losses between Rs 7,000 crore and Rs 9,000 crore following proposed adjustments to the Goods and Services Tax (GST) structure. Finance ministers from several key states argued during recent council deliberations that the revised tax slabs and rationalization measures threaten to destabilize fiscal…