Page 7 - Gst Compensation

21 states opt for Rs 97,000-crore RBI window to meet GST shortfall

This would help the proposal get cleared in the GST Council in case of voting

Some states against borrowing options to meet GST shortfall: MoS Finance

Some states have objected to the proposed borrowing plan of the Centre to fund the GST revenue shortfall and they are being requested to exercise either of the two options, Anurag Singh Thakur said

The GST compensation conundrum: Maharashtra leads in dues, shows data

The compensation cess collection is 26.4 per cent lower in the April-August period this year on a year-on-year basis

GST compensation due to states at Rs 1.51 trillion, Maharashtra owed most

The GST collection during April-August declined on account of COVID-19 induced lockdown, and the compensation due to states stands at over Rs 1.51 trillion, MoS for Finance Anurag Singh Thakur said

13 states submit borrowing option to Centre to fund GST shortfall

These 13 states include Bihar, Odisha, Andhra Pradesh, Gujarat, Uttarakhand and Meghalaya

GST compensation row: States' revenue fell 18% in first quarter, shows data

Details suggest the states' tax receipts (including the Centre's devolution) fell 32.1 per cent and non-tax revenues declined 27 per cent in this period

No discussion on GST borrowing options at parliamentary panel meet: Report

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

Centre releases Rs 6,195 crore to 14 states as devolution of taxes

Office of Union Finance Minister Nirmala Sitharaman in a tweet said that this would provide them with additional resources during the Covid-19 crisis

States may cut FY21 capex by Rs 3 trillion due to GST shortfall: Icra

States may have to significantly cut expenditure by as much as Rs 3.4 trillion in the current fiscal if they are not paid full compensation relating to GST, investment information agency ICRA has said

Rift over GST compensation sets stage for showdown between Centre, states

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

GST row: Compensate states that picked a borrowing option, says Sushil Modi

While Bihar, Gujarat, Karnataka, Tripura and Madhya Pradesh opted for the Reserve Bank of India (RBI) window, Manipur and Sikkim went for market borrowing

Amid Centre-states GST row, a white-knuckle moment for bond markets

Centre-state GST equation to be keenly watched

In absence of GST compensation, states may cut FY21 capex by Rs 3 trn: ICRA

The borrowing alternative offered by the Centre to make up for the shortfall in the promised compensation will lead to the states' fiscal deficits widening to 4.25 - 5.52 per cent

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