Page 4 - Gst Compensation

K'taka CM demands extension of GST compensation to states for 3 more yrs

Basavaraj S Bommai on Thursday demanded the Centre to extend the GST compensation period to states beyond 2022, for three more years

Centre to clear pending GST compensation in instalments: Karnataka CM

Karnataka Chief Minister Basavaraj Bommai has said the Centre has agreed to give last year's pending GST compensation of Rs 11,400 crore at the earliest in instalments.

Over Rs 81,000 crore due to states as GST compensation for 2020-21

Over Rs 81,000 crore GST compensation is due to states for 2020-21, while for April-May this year, Rs 55,345 crore is outstanding, Parliament was informed on Monday.

Centre frontloads Rs 75,000 crore to states as GST compensation

Move to help state govts spur capex amid pandemic

Centre releases Rs 75,000 crore to states, UTs as GST compensation

The government on Thursday said it has released Rs 75,000 crore to the states and Union Territories to compensate them for the shortfall in GST revenue.

West Bengal demands additional GST compensation of Rs 4,911 crore

West Bengal Finance Minister Amit Mitra on Monday said he had written to Union Finance Minister Nirmala Sitharaman in this regard but received no response so far.

Maharashtra CM meets Modi, discusses Maratha quota issue, GST compensation

Deputy Chief Minister and senior NCP leader Ajit Pawar, and senior Congress leader Ashok Chavan accompanied Thackeray.

GST compensation: Oppn-ruled states claim Rs 55,000-cr underestimation

They have also sought an additional compensation of Rs 65,000 crore for FY21

More misses than hits

GST Council should have addressed pressing issues

'GST compensation amount should be higher than Rs 1.58 trillion in FY22'

The compensation amount promised by the Centre is estimated to be higher than the Rs 1.58 trillion projected by the Centre, say three opposition-ruled states

GST Council meet: Govt to borrow Rs 1.58 trn for compensation shortfall

States' demand for the extension of the compensation period beyond June 2022 will be taken up in a separate meeting

ICRA pegs GST compensation of Rs 2.65 trillion for states for FY22

Chief Economist Aditi Nayar said that after a sharp fiscal deterioration in FY21, the Budget estimates for FY22 of 24 state governments had indicated a decline in their aggregate revenue deficit

Centre, states stare at Rs 2-trillion GST cess gap amid Covid-19

The GST compensation of states is expected to widen to Rs 2.5-3 trillion in FY22 as against the cess collection of Rs 1 trillion estimated in the Budget

States likely to ask for five-year extension of GST compensation

Tax sops on Covid supplies to also be on agenda at Council meet

Hold urgent GST meet to cut tax on key medicines, equipment: States

Also want to discuss extension of the compensation period beyond July 2022

Duty revisions after Oct to come with sunset clause, says FM Sitharaman

Government will rationalise customs duties after consultations, says finance minister

States may face Rs 3 trillion GST compensation shortfall in FY22: Report

This will force them to borrow more from the markets, says a report

100% of estimated GST compensation shortfall of Rs 1.1 trn released: Govt

Starting from October 23, 2020, the borrowings were completed in 20 weekly instalments

96% of GST compensation shortfall to states released so far, shows data

Under the special window, the Centre has been borrowing in Government Stock with a tenure of three years and five years on behalf of states

Centre releases Rs 1.06 trn GST compensation shortfall to states since Oct

The Centre has released Rs 1.06 lakh crore to the states since October 2020 to meet GST compensation shortfall, the Finance Ministry said on Tuesday. The ministry has released the 19th weekly instalment of Rs 2,104 crore to 23 states and 3 Union Territories with Legislative Assembly (Delhi, Jammu & Kashmir & Puducherry), taking the total amount released so far under the special borrowing window set up in October last year to Rs 1.06 lakh crore. The remaining five states of Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of Goods and Services Tax (GST) implementation. So far, an amount of Rs 1,06,104 crore has been borrowed by the Central Government through the special borrowing window at an weighted average interest rate of 4.8842 per cent, the ministry said in a statement. The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of ...