Page 7 - Gst Compensation

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

GST compensation cess mop-up rises for first time in five months

Collection up 6% in Aug YoY; overall mop-up below Rs 1-trn mark for 6th month

CM Bhupesh Baghel demands Rs 2,828 Cr from Centre as GST compensation

A meeting of State Finance Secretaries with the Union Finance Secretary and Secretary (Expenditure) is scheduled to be held on September 1, 2020, for clarifying issues, if any

GST compensation row: State govts ask Centre to borrow and pay

The finance ministry on Saturday officially communicated the finer details of the two options to states to make up for the compensation shortfall by way of borrowings

Telangana says it lost Rs 8,000 cr income; seeks full GST compensation

Telangana government asserted the Centre has no option but to pay full GST compensation to states and said the southern state lost about Rs 8,000 crore income during the past four months

Kerala rejects Govt's proposal of borrowing by states to meet GST shortfall

Kerala will reject "lock, stock and barrel" the Centre's proposal of borrowing by states to meet GST revenue shortfall, state finance minister Thomas Isaac said