In the current fiscal, the states are staring at a staggering Rs 2.35 trillion Goods and Services Tax revenue shortfall
2011 Bill outlined such a structure, but it was not included in Act
The data comes in the backdrop of simmering tension between the Centre and states over the promised compensation and ahead of the Council meeting on Monday
Permission granted on meeting of one-nation-one-ration card reform
Rebuts FinMin claim that UT is among those to opt for RBI window to meet shortfall in GST
Singh told Arup Roychoudhury and Indivjal Dhasmana that the Commission could recommend spending 2.5 per cent of GDP on health in the light of the Covid-19
Nirmala Sitharaman said GST Council will arrive at a common ground on ways to compensate states for loss of revenue
These 13 states include Bihar, Odisha, Andhra Pradesh, Gujarat, Uttarakhand and Meghalaya
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
The GST law requires the federal government to compensate states for five years through March 2022 for any revenue loss on account of the new tax
Centre will have to get support of some non-BJP-ruled states to pass its decision even in case of vote
The finance ministry ruled out borrowing by the Centre as suggested by some states
Prakash Javadekar assured the automobile industry that he will take up the industry's demand for a cut in GST for the sector with the Finance Minister and the Prime Minister
Asserts that Centre must borrow to meet GST shortfall at this critical hour of Covid-19 pandemic, says states will reciprocate
He asked the government to ensure that the states get their full dues of the compensation in the current year itself
Meet today to outline strategy on compensation
The GST Council will have to work out a mid way solution for making good the GST collection shortfall, Bihar Deputy CM Sushil Modi has said.
Finance Ministry gives states two options for meeting shortfall in collection; GST Council meet to discuss matter
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Our worst fears are now coming true, Amit Mitra writes to Sitharaman