Modi Govt used Rs 47,272 Crore GST compensation cess elsewhere, Violated law: CAG Report
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The CAG has found that the Union govt in the very first two years of the GST implementation wrongly retained Rs 47,272 crore of GST compensation cess that was meant to be used specifically to compensate states for loss of revenue. In its audit report of government accounts, the Comptroller and Auditor General (CAG) flagged that the amount was to be credited to the non-lapsable GST Compensation Cess collection fund for payment to states.