Oct 13, 2020 11:34 AM IST
Watch the video to find out what transpired at the third straight GST Council meeting on compensation cess
Oct 12, 2020 11:21 PM IST
Option one, which allows states to borrow Rs 97,000 crore through a special window facilitated by the RBI involves deferment of compensation payment beyond 5 years for which a GST Council decision is necessary as per AG’s opinion, and no such decision has been made in the Council, Thomas Isaac tweeted
Oct 12, 2020 11:00 PM IST
Finance Minister Nirmala Sitharaman said that the GST Council meeting held on October 12 ended without a consensus between the Centre and a few states.
Oct 12, 2020 10:25 PM IST
Increased borrowing costs is not something that the government can afford at a time when India is looking at more money to invest and to borrow to do business, says Finance Minister Nirmala Sitharaman.
Oct 12, 2020 05:05 PM IST
Some states like Bihar want the issue of pending compensation dues worth over Rs 2 lakh crore to be settled at the earliest.
Sep 14, 2020 11:55 AM IST
Andhra Pradesh, Bihar, Gujarat, Haryana, Karnataka, Madhya Pradesh, Meghalaya, Sikkim, Tripura, UP, Uttarakhand and Odisha have preferred to opt for borrowing from the special window facilitated by the RBI.
Aug 27, 2020 10:36 PM IST
The Centre has placed two options before the GST Council for borrowing by states to meet the shortfall in GST revenues, pegged at Rs 2.35 lakh crore in the current fiscal.
Aug 27, 2020 06:40 PM IST
Revenue Secretary Ajay Bhushan Pandey said of this, Rs 97,000 crore is on account of GST shortfall, while the rest is due to the impact of COVID-19 on the economy.
Aug 27, 2020 05:29 PM IST
The GST Council chaired by Finance Minister Nirmala Sitharaman gave states 7 days to choose between two options to bridge the GST compensation gap.