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March 15, 2021 Wooden letters GST and money coin stack on red table background, financial concept   -  istock.com/ePhotocorp Wooden letters GST and money coin stack on red table background, financial concept   -  istock.com/ePhotocorp× ICRA estimates compensation requirement for FY 22 at Rs 1.6-2 lakh crore The Finance Ministry on Monday claimed that full amount of the estimated GST compensation shortfall of ₹1.10 Lakh crore for FY 2020-21 has been released to States and Union Territories with legislative assemblies. Meanwhile, economic research agency ICRA has estimated GST compensation requirement of the state governments for FY 2021-22 at ₹2.7-3-lakh crore and the shortfall relative to the assessed cess collections at ₹1.6-2-lakh crore.

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