Kerala is still struggling to get its fair share from Integrated Goods and Services Tax (IGST) settlements. The Kerala Public Expenditure Review Committee (KPERC) calls this "a major concern" and "a puzzle yet to be resolved." The first report of the 7th KPERC, covering 2021-22 to 2023-24, was recently tabled in the Kerala Assembly. It said overall GST revenue has grown post-COVID-19. But Kerala’s revenue from IGST remains low despite the state being a heavy consumer of goods from other states. Kerala depends a lot on interstate supplies and normally should benefit from IGST. But the committee found that the expected IGST gains have not come through. The report said, "This anomaly points to systemic issues in IGST settlement, including deficiencies in place-of-supply rules, concentration of registrations in producing States, and inadequate capture of interstate service consumption. The persistence of this pattern in the post-pandemic recovery phase suggests that the problem is structural rather than transitory," according to panel head K.J. Joseph. Kerala exports goods worth around ₹550 billion to other states but imports nearly ₹1.5 trillion. This creates a trade deficit of about ₹1 trillion with the rest of India. Based on this, Kerala's SGST to IGST ratio should be 3. Instead, the IGST share is only 1.2%, raising questions about the fairness of the current system. The state government has been raising this issue with the GST Council but with little success. In 2017-18, Kerala’s SGST was ₹5,399 crore and IGST was ₹6,065 crore, a ratio of 1.1%. In 2023-24, these amounts rose to ₹13,934 crore and ₹16,977 crore respectively, but the ratio improved only slightly to 1.2%. The IGST earnings remain a mystery that Kerala hopes to solve soon.