Page 3 - Gst Compensation

Raise your share in centrally-sponsored schemes: States to FM Sitharaman

States also want GST compensation extended till 2027

States demand extension of GST compensation for another 5 years

The GST compensation to states for revenue shortfall resulting from subsuming of local taxes such as VAT in the uniform national tax Goods and Services Tax (GST) will end in June next year

About Rs 52,000 cr GST compensation pending to states till Sept: FinMin

Nearly Rs 52,000 crore of GST compensation was due to the states as of September 2021, Parliament was informed on Monday. Giving details of Goods and Services Tax (GST) compensation released and pending to be released as on November 24, 2021, Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha that Rs 1,10,208 crore and Rs 1.59 lakh crore was released to the states as back to back loan in 2020-21 and 2021-22 fiscals, respectively. Total GST compensation pending till September 2021 stood at Rs 51,798 crore, he said. This includes Rs 13,153 crore pending to Maharashtra, Rs 5,441 crore to Uttar Pradesh, Rs 4,943 crore to Tamil Nadu, Rs 4,647 crore to Delhi and Rs 3,528 crore to Karnataka. States of Arunachal Pradesh, Manipur, Mizoram and Nagaland do not have any GST compensation pending from the Centre. In reply to a separate question, Chuadhary said the Centre has released Rs 17,000 crore on November 3, 2021, towards GST compensation to states from the compensation

Centre releases Rs 17,000 crore to states as GST compensation

With this, the total amount of compensation released to the states/UTs during 2021-22 so far is Rs 60,000 crore

GST shortfall: Centre releases Rs 1.6 trillion to states this fiscal year

This release of funds as back-to-back loans is in addition to the bi-monthly GST compensation being given out of cess collection.

No additional borrowing by Centre to meet GST compensation in FY22

The Centre will stick to its borrowing programme for FY22 and will not tap the market for more funds to meet the GST compensation shortfall for states.

Centre releases Rs 40k cr to states/UTs to meet GST compensation shortfall

Total amount of Rs 1.15 trn released in current year to meet GST compensation shortfall

Top headlines: Govt moves on bank privatisation; Lupin to enter diagnostics

Govt will be borrowing Rs 5.03 trillion from the market in the second half, unchanged from what it had planned, but including the GST compensation paid to states. More in top headlines of the day

Centre won't hit market to make up for GST compensation shortfall

To borrow Rs 5.03 trillion in Oct-March 2022

Structural changes in GST

Correction to revenue-neutral rate must not be delayed

States slam FM plan to not extend GST compensation after June 2022

Opposition-ruled states saymatter was deferred for further discussions during Friday's meeting

Oppn-ruled states demand extension of GST compensation beyond June 2022

Finance ministers of Opposition-ruled states have demanded that the GST compensation cess regime be extended beyond June 2022.

Kerala FM seeks extension of GST compensation regime

Kerala Finance Minister pitched for extending the GST compensation beyond June next year as he highlighted that the state is already grappling with significant revenue shortfall.

GST Council extends levy of compensation cess till March 2026

The GST Council has agreed to levy compensation cess for an extended period upto March 2026 to enable the Centre to repay the loans, to compensate states for GST collection shortfall

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.