 "GST shortfall: Govt allows 20 states to borrow Rs 69,000 crore more")
A day after the goods and services tax (GST) Council meeting ended in a deadlock, the Centre on Tuesday allowed 20 states to borrow an additional Rs 68,825 crore through the market to make up for the compensation shortfall amid inadequate cess collection.
Meanwhile, dissenting states like Kerala, West Bengal, Punjab and Chhattisgarh said they are exploring legal options, including moving the Supreme Court, to counter the Centre’s move.
Twenty states had picked the finance ministry’s first option of raising up to Rs 1.1 trillion to make up for revenue loss estimated on account of GST implementation alone, but not for losses
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