 "No discussion on GST borrowing options at parliamentary panel meet: Report")
Sources clarified on Friday that there was no discussion on the borrowing options for goods and services tax (GST) compensation given by the Centre to states at a meeting of the parliamentary standing committee.
The clarification came in the wake of reports which claimed that the finance ministry told the committee that the attorney general would be consulted again on the issue of GST compensation to states. Sources said that the reports were completely incorrect.
Sources in know of the matter said that during the meeting of the parliamentary panel there was only a discussion on the CAG report on GST collection for FY19.
Sources said that the attorney general had already opined that there was no obligation on the Centre, under GST laws, to compensate for the loss of revenue. According the attorney general, it is the GST council which has to find ways to meet the shortfall in compensation and not the central government.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%