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Oct 12, 2020 11:08 PM IST | Source: Moneycontrol.com

GST Council Meet Highlights| Finance Minister Sitharaman says no unanimity among states

Some states like Bihar want the issue of pending compensation dues worth over Rs 2 lakh crore to be settled at the earliest.

The 42nd Goods and Services Tax (GST) Council is to meet on October 12 to achieve a consensus on the issue of borrowing to meet the compensation shortfall.  As states are hard-pressed for finances to meet their expenditure, some states like Bihar want the issue of pending compensation dues worth over Rs 2 lakh crore to be settled at the earliest.  Here are the latest updates on the matter:

  • October 12, 2020 11:06 PM IST

    This LIVE blog session has concluded. Stay tuned to Moneycontrol for the latest news, views and updates.

  • October 12, 2020 10:32 PM IST

    GST Council Meet LIVE Updates | Finance Minister explains why Centre cannot borrow at press conference 
    Since the centre has already issued a borrowing calendar, if it were to borrow outside of it this would affect the bond yields, particularly the G-SEC bond, explained Finance Minister Nirmala Sitharaman. 

  • October 12, 2020 10:31 PM IST

    GST Council Meet LIVE Updates | Finance Minister Nirmala Sitharaman says there has been very intense engagement 
    There was very intense engagement at the meeting today, says Finance Minister Nirmala Sitharaman at a press conference. 
     

  • October 12, 2020 10:01 PM IST

    GST Council Meet LIVE Update | Finance Minister Nirmala Sitharaman, there is no unanimity
    There is no unanimity, cess has been extended beyond five years. For states who want to borrow that option is also available says Finance Minister Nirmala Sitharaman. 

  • October 12, 2020 09:55 PM IST

    GST Council Meet LIVE Updates | Finance Minister Nirmala Sitharaman says, no consensus on a matter on which differences exist
    There was no consensus arrived on a matter on which difference exist. The GST Council can certainly take a call on cess, collection of cess and extending the period of collection of cess was reiterated says Finance Minister Nirmala Sitharaman. 

  • October 12, 2020 09:51 PM IST

    GST Council Meet LIVE Update |  FM Nirmala Sitharaman says questions about why centre isn't borrowing answered

    Finance Minister Nirmala Sitharaman clarifies that the Centre answered questions about why it cannot borrow, at a press conference post meeting.  

  • October 12, 2020 09:34 PM IST

    GST Council Meet LIVE Updates | GST Council meeting ends without any conclusion (Source: CNBC-TV18)

  • October 12, 2020 09:31 PM IST

    GST Council Meet LIVE Updates | GST Council meet concludes 
    GST Council meet concluded (Source: CNBC-TV18) 

  • October 12, 2020 09:14 PM IST

    GST Council Meet LIVE Updates | Finance Minister tells states that they need not have any doubts, this loan is to be paid by Cess & they would not be burdened (Source: CNBC-TV18) 

  • October 12, 2020 08:55 PM IST

    GST Council Meet LIVE Updates | Finance Minister tells GST Council that there is no dispute, only difference in opinions. 
    Finance Minister Nirmala Sitharaman tells the GST Council that there is no dispute and only difference in opinions. I am being reminded that this council has been working on consensus, she said. (Source: CNBC-TV18)

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