Page 5 - Gst Compensation

Over Rs 2.06 trillion GST compensation to states due for April-November

A total of Rs 84,000 crore has been released to the states under the special borrowing window

GST shortfall: FinMin releases weekly installment of Rs 6,000 cr to states

The Finance Ministry on Wednesday released the 14th installment of Rs 6,000 crore to states to meet the GST compensation shortfall, taking the total amount of fund released so far to Rs 84,000 crore. Till now, 76 per cent of the total estimated GST compensation shortfall has been released to states and 3 UTs. Out of this, an amount of Rs 76,616.16 crore has been released to 23 states and Rs 7,383.84 crore to the 3 UTs with Legislative Assembly (Delhi, J&K, Puducherry). The remaining 5 states, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim, do not have a gap in revenue on account of GST implementation, it added. 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 implementation of GST. The Finance Ministry in a statement said it has released the 14th weekly installment of Rs 6,000 crore to states to meet the GST compensation shortfall. The amount has been borrowed this week

FinMin releases Rs 6,000 crore to states, UTs to meet GST shortfall

The Finance Ministry on Monday released the 11th instalment of Rs 6,000 crore to states and UTs to meet the GST compensation shortfall, taking the total amount provided so far under this window to Rs 66,000 crore. 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 implementation of GST. The Ministry of Finance in a statement said it has released the 11th weekly instalment of Rs 6,000 crore to states/Union Territories to meet the GST compensation shortfall. Out of this, Rs 5,516.60 crore has been released to 23 states and Rs 483.40 crore to the three Union Territories (UTs) with Legislative Assembly (Delhi, Jammu & Kashmir and Puducherry), who are members of the GST Council. The remaining five states, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation, it said. "The amount has been borrowed this week at an interest

Finance ministry releases 10th instalment of GST compensation to states

The Finance Ministry on Monday released the tenth weekly instalment of Rs 6,000 crore to the states to meet the Goods and Services Tax (GST) compensation shortfall.The Finance Ministry said in a release that out of this amount, a sum of Rs 5,516.60 crore has been released to 23 states and an amount of Rs 483.40 crore has been released to the three Union Territories (UT) with Legislative Assembly (Delhi, Jammu & Kashmir and Puducherry) which are members of the GST Council.The remaining five states namely Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation.Now, more than 50 per cent of the estimated GST compensation shortfall has been released to the states and UT with Legislative Assembly, the government said.The Government of India 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 implementation of GST. The borrowings are .

Centre releases Rs 6,000 crore loan to states to meet GST shortfall

The Finance Ministry has released the ninth weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall

8th instalment of Rs 6,000 cr released to states to meet GST shortfall

The Ministry of Finance has released eighth weekly installment of Rs 6,000 crore to states to meet the Goods and Services Tax (GST) compensation shortfall.Of this, Rs 5,516.6 crore has been released to 23 states and an amount of Rs 483.4 crore has been released to the three union territories with legislative assembly (Delhi, Jammu & Kashmir and Puducherry) which are members of the GST Council.The remaining five states -- Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim -- do not have a gap in revenue on account of GST implementation, according to an official statement released on Monday.The government had set up a special borrowing window in October to meet the estimated shortfall of Rs 1.1 lakh crore in revenue arising on account of implementation of GST.The borrowings have been done in seven rounds. The amount has been borrowed this week at an interest rate of 4.1902 per cent. So far, an amount of Rs 48,000 crore has been borrowed by the Central government through the .

GST revenues take a beating as Council tweaks rates far too often

Centre to propose one a year tweaking; states say proposal is not enough, slabs need to be changed, experts call for flexibility to cater to immediate needs

Centre releases Rs 42,000 cr to states to meet GST compensation shortfall

The latest instalment of Rs 6,000 crore was released to the states on Monday

Centre releases Rs 6,000 crore of GST compensation to 23 states, three UTs

Remaining five states do not have a gap in revenue on account of GST implementation.

Centre's GST compensation formula gets approval from all states, UTs

Jharkhand, the only remaining state, has now communicated its acceptance of Option-1 given by the Centre

Chhattisgarh opts for special window for GST compensation; Jharkhand left

Now all states, except Jharkhand, have opted for Centre's borrowing options. Recently, Punjab, Kerala and West Bengal also accepted Centre's proposal after much opposition

Kerala, West Bengal opt for Centre's special GST compensation window

That leaves only Punjab, Jharkhand and Chhattisgarh, which are yet to agree to the Centre's proposal

West Bengal partially agrees to Centre's GST compensation proposal

In a letter to the Union Finance Minister, Nirmala Sitharaman, West Bengal Finance Minister, Amit Mitra, has suggested that a GST Council meeting may be convened to discuss the borrowing of the remain

GST borrowing to meet states shortfall must be reasonable: Finance Secy

So far, 21 states and 3 Union Territories have opted for the borrowing plan proposed by the Centre

Centre borrows Rs 6,000 cr to compensate GST to 18 domains in first tranche

16 states, two UTs among beneficiaries; money raised at 5.19% interest rate; Centre to transfer Rs 6,000 crore to states on a weekly basis through this window

Centre, states relations worsen over farm bills, GST compensation

Invocation of tripartite agreement with Jharkhand strains ties further

Raise GST borrowing to Rs 1.83 trillion, Kerala CM writes to FM Sitharaman

More states likely to write to FM today; Jharkhand rejects Centre's proposal

Bridge the gap

Centre's decision to borrow doesn't fully address the GST issue

GST compensation: States refuse to relent, demand full borrowing by Centre

A day after the Centre agreed to borrow Rs 1.1 trn and lend to states in lieu of the promised compensation, dissenting states including Chhattisgarh, Kerala made it clear they will not relent

GST compensation shortfall: Centre to borrow Rs 1.1 trn on behalf of states

This may come as a victory of sorts for opposition-ruled states, including Punjab, West Bengal, and Chhattisgarh, which have insisted that the Centre should do the borrowing