The Goods and Services Tax (GST) official was a stand-off on the problem of compensation which is to be given to states on record of the shortfall arising from the change in the tax in 2017. Although they had taken a decision to extend the cess compensation beyond 2022 which is a 5 year period on which they accept it. The official on October 12 will again meet to address the issue. The centre immediately disbursed Rs 20,000 crore which is collected in the cess fund for the present fiscal year said Finance Minister.
The Finance Minister said that “This would be disbursed tonight itself,” with the distribution of GST an amount of Rs 24,000 crore is to be paid to the states which had not received the payment as advocated by the group of ministers. The GST collection 
The GST collections for September are likely to be higher than Rs 95,000 crores for the first time this fiscal year. The amounts are registered to be published. Read more is affected due to COVID-19 which has arisen the situation for compensation to the states. The opposition states that the centre must have to borrow from the market for payment to the states who have a shortfall in the time of the pandemic.
There are 20 states who had chosen for 1st option out of two options proposed by the Centre which states the borrowing Rs 97,000 crore since raised to Rs 1.1 lakh crore while the minister said a more comprehensive agreement was required.
“You can’t decide on the 20 states that have written–we need to talk further and I can’t take anyone for granted and I’m open for more and more talk,” “Nobody is going to be denied compensation… We have not denied compensation to states… It is not as if the Centre is sitting on money and denying them.” “Ten states demanded that full compensation should be paid to the states during the current year as per clauses in the law and Centre should borrow,”
Still, we will have to look at the upcoming GST council meeting 
Get to know about GST (Goods and Services Tax) council 1st to 42th meeting updates and decisions taken by members. We have covered 1st meeting to last meeting decisions to be held on 12th October which will finally decide the revenue compensation issue for all the states.
