All the 28 states and three union territories with legislature have decided to go for the Centre-suggested compensation formula to meet the revenue shortfall arising out of the GST implementation.

"There is no act of God in the GST formula. This is a brazen abrogation of a solemn promise," Kerala Finance Minister Thomas Isaac said, hitting out at the Centre. On GDP growth figures, he said," I ...

Goods and Services Tax (GST) department officials and businessmen are in a fix over the applicability of changed formula for availing the accumulated input tax credit (ITC) in special cases. The ...