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2 mins read
13 states decide on GST compensation — only Manipur opts for borrowing entire shortfall in one go
Out of the 13, 12 states have opted for the first option, under which the Union government has o…
2 mins read
8th weekly instalment of ₹6,000 crore released to states meet the GST compensation shortfall
Ministry of Finance has released the 8th weekly instalment of ₹6,000 crore to the states to meet th…
2 mins read
Government needs to work on re-establishing trust with states, says former finance minister P Chidambaram
"I welcomed the change of heart," he tweeted and asked the Centre to clarify how the debt of states…
PTI
2 mins read
All 28 states and three union territories decided to go for Centre's GST compensation formula
All the 28 states and three union territories with legislature have decided to go for the Centre-su…
2 mins read
Government allows 20 states to meet GST compensation shortfall through open market borrowing
Even with consensus eluding the GST Council meeting on Monday over adoption of borrowing option to …
2 mins read
GST Council gives two options to bridge compensation shortfall — states ask for seven working days to make up their mind
The Finance Ministry estimates the shortfall in cess collection this year will be around ₹2,35…
3 mins read
States not choosing GST compensation options by October will have wait another two years
The sources said that such states will have to wait till June 2022 to get compensation dues, sub…
2 mins read
Jharkhand is the only state holding out against the Indian government's suggested formula on GST compensation
With Chhattisgarh communicating its acceptance of Option-1 to meet the revenue shortfall arising ou…
2 mins read
GST Council likely to approve two-year extension of compensation cess levy
As the Council is likely to adopt the compensation formula suggested by t he Centre in the dif…
2 mins read
GST council and states fail to reach consensus on compensation cess — 'No dispute, we may have differences,' says Sitharaman
“There is no dispute, we may have differences,” said Sitharaman. According to her, most of the s…
3 mins read
Government's new GST compensation formula may raise unconditional borrowing limit by 0.5%
Government sources said that the unconditional borrowing limit for states could be raised by ano…
4 mins read
GST Council meet on Thursday to figure out how states will be compensated for delays in payment
"The Council will meet tomorrow with a single-point agenda to discuss the compensation cess. A…
5 mins read
Finance Minister Nirmala Sitharaman’s tribute to the late Arun Jaitley is also coming ahead of a tough GST Council meeting where states will ask for money
SBI, ICICI Bank, Axis, Kotak and others have plans to raise $14 billion — but if things go haywire,…
2 mins read
GST Council meet yet again — to discuss compensation issue for the third time today
The single agenda 43rd meeting of the Council will discuss on the way forward, sources said. …
PTI
2 mins read
GST rates may go up for various items to meet revenue shortfall
New Delhi, Dec 11 () With pressure on revenue collection, the goods and services tax (GST) rates an…
PTI
3 mins read
GST Council to meet on Wed amidst talk of rate hike to meet revenue shortfall
New Delhi, Dec 17 () The GST Council will meet on Wednesday to review the taxation structure for sh…
PTI
3 mins read
Payment to states delayed due to low realisation of GST compensation cess: FM
"There cannot be any tweaking here. Formula is given by the finance commission and the formula is …
PTI
4 mins read
GST compensation: States say Centre staring at sovereign default; GST Council sees 1st ever voting
New Delhi, Dec 18 () In a development with far-reaching implications, non-BJP ruled states on Wedne…
PTI
2 mins read
Govt to look into legality of market borrowing by GST Council to compensate states' revenue loss
The minutes of the 7th GST Council meeting state that the chairperson of the GST Council (the Union…
PTI
1 min read
Rs 81,043 cr GST compensation released to states for Apr-Sep: Thakur
For 2018-19 fiscal, the net collection of GST compensation cess stood at Rs 95,081 crore as against…