Kerala Finance Minister proposes 60:40 GST revenue split in favor of states at GST Council meeting.
Kerala Finance Minister K N Balagopal proposed a 60:40 GST revenue sharing split in favor of states during a GST Council meeting, up from the current 50:50 split. He also urged for including state details in GSTR-8 forms for e-commerce transactions, and requested a review of the anti-profiteering sunset clause. The GST Council agreed to re-examine the IGST system within 10 days and address revenue loss issues.
June 23, 2024
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