States likely to seek extension of GST compensation window by at least 2-3 years

States may request an extension of the compensation window for at least two to three years, in the upcoming GST Council Meeting.

The average revenue shortfall across all of India has decreased from 37.9 percent in FY21 to 27.2 percent (FY 2022)

5 States Manipur, Mizoram, Nagaland, Sikkim, and Arunachal Pradesh have a pattern of revenue surplus.

However, 6 States have a maximum revenue shortfall. They are HP, Goa, Punjab, Uttrakhand, Chandigarh, Delhi, and Pudducherry