Page 8 - Gst Compensation

GST Compensation revives bitter memory of Centre-state tussle over VAT

Under the VAT system, the compensation mechanism linked to the cut in central sales tax from 4% to zero had created bad blood between the union govt and the states

Vote on GST compensation inevitable if govt sticks to 2 options, says Isaac

Centre will have to get support of some non-BJP-ruled states to pass its decision even in case of vote

States' unhappiness index on the rise

Centre's proposals on settling states' demand for GST compensation can throw up new challenges

Borrow from RBI or release 'pvt trust fund' money to pay GST dues: Yechury

Accusing the government of denying states their GST dues, CPI(M) leader Sitaram Yechury said it must borrow from the RBI or release money from a private trust fund, a reference to PM-CARES Fund

GST compensation row: Bihar bats for the first option proposed by Centre

West Bengal, Tamil Nadu, Kerala, Chhattisgarh, and Telangana have rejected both the options and reached out to Prime Minister Narendra Modi to intervene

Finance Commission to deliberate on GDP growth, GST compensation

N.K. Singh, the Chairman of the 15th Finance Commission, along with the other members, will hold a day-long meeting with the Economic Advisory Council of the commission on Friday

Centre, state finmin officials thrash out GST compensation gaps

The states were informed that if they take the option of borrowing Rs 97,000 crore under a special window, they will still get Rs 2.35 trillion minus Rs 97,000 crore from the compensation cess

GST compensation cess mop-up rises for first time in five months

Collection up 6% in Aug YoY; overall mop-up below Rs 1-trn mark for 6th month

CM Bhupesh Baghel demands Rs 2,828 Cr from Centre as GST compensation

A meeting of State Finance Secretaries with the Union Finance Secretary and Secretary (Expenditure) is scheduled to be held on September 1, 2020, for clarifying issues, if any

GST compensation row: State govts ask Centre to borrow and pay

The finance ministry on Saturday officially communicated the finer details of the two options to states to make up for the compensation shortfall by way of borrowings

Telangana says it lost Rs 8,000 cr income; seeks full GST compensation

Telangana government asserted the Centre has no option but to pay full GST compensation to states and said the southern state lost about Rs 8,000 crore income during the past four months

Kerala rejects Govt's proposal of borrowing by states to meet GST shortfall

Kerala will reject "lock, stock and barrel" the Centre's proposal of borrowing by states to meet GST revenue shortfall, state finance minister Thomas Isaac said

Tamil Nadu CM urges Centre to revisit options on GST compensation

He asked the government to ensure that the states get their full dues of the compensation in the current year itself

GST compensation row: FM's 'act of God' can be a nightmare for RBI

The government has invoked "act of God" for not paying its due to the states directly

States' fiscal deficit likely to hit 4.2-5.5% of GSDP this fiscal year

This may take the general deficit of the country-- both the Centre's and states'-- to 11-14 per cent of GDP in FY21

Oppn-ruled states dismiss Centre's 2 options on GST compensation shortfall

Meet today to outline strategy on compensation

States to bear interest burden for borrowing Rs 2.35 trn shortfall in GST

Finance Ministry gives states two options for meeting shortfall in collection; GST Council meet to discuss matter

Govt writes to states, suggests borrowing options to meet GST shortfall

States could borrow via a special window centre will facilitate through the RBI or they may raise debt from the market, says finance ministry

Icra finds FinMin's estimates of GST compensation gap much smaller

Estimates by Icra put the total gap at Rs 2.92 trillion against the ministry's estimates of Rs 2.35 trillion

FRBM hike not enough; need 0.75 percentage point leeway: Thomas Isaac

In an interview with Dilasha Seth, Kerala Finance Minister Thomas Isaac says if the issue isn't settled, states will have to move Supreme Court