Page 10 - Gst Compensation

Revenue and compensation on table at GST Council meeting on Friday

The government has rung up just about Rs 95,000 crore as GST in April and May together, and that is less than half compared with the collection in the corresponding months last year.

GST Council may discuss ways to gather funds for states' compensation

Faced with dismal collection and extended deadline for filing returns, the government has refrained from releasing the monthly GST revenue collection figures for the months of April and May

'No doubt' on GDP contraction in Q1: CEA Krishnamurthy Subramanian

Subramanian also said that the Centre had gone beyond its means to support states, was keeping its options open regarding deficit monetisation, and that the new privatisation policy would be out soon

Covid-19 crisis: Centre releases Rs 36,400-crore GST compensation to states

States have been up in arms against the Centre over the non-payment of compensation dues according to the calender

States' GST compensation requirement to swell to Rs 4.1 trn in FY21

This is equivalent to 2.1 per cent of the country's estimated GDP

Centre considers market borrowing for GST compensation to states

Raising GST rates or rationalisation of tax slabs may be discussed by the GST Council in the next meeting to be scheduled early next month.

Centre owes Rs 3 trillion to states and industry amid Covid-19 outbreak

Assocham President Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of I-T, VAT, and GST, and compensation

PM hints at lockdown extension till Apr 30; industrial activity may begin

The motto of the government earlier was "jaan hai to jahaan hai", but now it is "jaan bhi jahaan bhi", the PM said

Centre releases another Rs 34,000 cr GST compensation to states, more soon

States, so far, have been paid pending dues till November and the remaining will be cleared in phases soon

Govt set to release Rs 20,000 cr pending GST compensation to states soon

second fiscal stimulus likely to be announced soon

Centre releases Rs 19,950 crore as GST compensation to states and UTs

This is for the first time that the Centre has given compensation to states for one month only

Centre releases Rs 19950 cr GST compensation to states, total at Rs 1.2 trn

In a statement, the finance ministry said Rs 19,950 crore was released to states and union territories on last Monday

States to get Oct-Nov GST compensation before next Council meet

The Centre has estimated a compensation cess shortage of Rs 63,200 crore in 2019-20 (FY20)

GST compensation to states delayed due to low realisation of cess: FM

At the time of the introduction of GST, it was agreed that the Centre would compensate states for shortfall in GST collections as per a defined formula

States may not get GST compensation in full, says Finance Ministry

Centre for rate hike to make up for Rs 30K-cr revenue gap

Centre to release another Rs 35,000 cr GST compensation to states soon

Under the Goods and Services Tax (GST) law, states are guaranteed compensation for revenue loss for 5 years if their revenue does not increase 14 per cent on the base year of 2015-16

GST compensation fund likely to fall short by Rs 25,000 cr in FY20: Icra

The agency assesses the compensation for the losses related to the goods and services tax (GST), required by all the states for the period from October 2019 to January 2020, at Rs 60,000-70,000 crore

Statsguru: Despite GST dues payment, worries far from over on revenue front

IGST collection on imports shows a disturbing trend with a fall for four consecutive months

GST compensation dues for 9 states could double to Rs 70,000 crore: ICRA

Centre will recover the excess amount paid last year by adjusting the same in this year's payment

GST compensation payment to 9 states may double to Rs 70K-cr in FY20: ICRA

Subdued economic growth and reductions in GST rates have resulted in a muted 3.7 per cent rise in the headline GST collections in April-November 2019