Page 9 - Gst Compensation

Centre not obliged to pay for shortfall in GST compensation fund, says A-G

Says Centre not obliged to pay GST compensation shortfall; experts dislike idea of burdening states with additional debt

States can borrow to fund GST compensation, Centre not obliged to pay: AG

K K Venugopal does not recommend borrowings by GST council; experts dislike the idea of burdening states with more debt

Centre releases Rs 1.65 trillion as GST compensation to states for FY20

Cess collection was at Rs 95,444 crore, surplus fund of previous years and unallocated IGST fund used

Top headlines: States on GST compensation, Emami questions HUL & more

From states divided on alternative GST compensation, Emami questioning changing of 'Fair and Handsome' name to startups helping tenant amid Covid-19, here are the top headlines of the day

Covid-19 crisis: States divided on alternative GST compensation mechanism

While Punjab and Kerala will press the GST Council to borrow in order to compensate states, Bihar Deputy Chief Minister Sushil Kumar Modi called the idea "wishful thinking"

Green shoots of recovery? GST mop-up improves in June, crosses Rs 90,000 cr

However, the rate of decline has come down considerably to just 9.02 per cent from 38.17 per cent in May and 71.63 per cent in April

Compensation has become the biggest issue in GST: Sushil Kumar Modi

Modi tells Dilasha Seth that the proposed reforms like simplified return form and e-invoicing facility, among others, will be difficult to push through in the fourth year.

Honest, thorough reappraisal of GST long overdue

The GST regime was ushered in without adequate preparation of the information technology platform for filing returns

Revenue and compensation on table at GST Council meeting on Friday

The government has rung up just about Rs 95,000 crore as GST in April and May together, and that is less than half compared with the collection in the corresponding months last year.

GST Council may discuss ways to gather funds for states' compensation

Faced with dismal collection and extended deadline for filing returns, the government has refrained from releasing the monthly GST revenue collection figures for the months of April and May

'No doubt' on GDP contraction in Q1: CEA Krishnamurthy Subramanian

Subramanian also said that the Centre had gone beyond its means to support states, was keeping its options open regarding deficit monetisation, and that the new privatisation policy would be out soon

Covid-19 crisis: Centre releases Rs 36,400-crore GST compensation to states

States have been up in arms against the Centre over the non-payment of compensation dues according to the calender

States' GST compensation requirement to swell to Rs 4.1 trn in FY21

This is equivalent to 2.1 per cent of the country's estimated GDP

Centre considers market borrowing for GST compensation to states

Raising GST rates or rationalisation of tax slabs may be discussed by the GST Council in the next meeting to be scheduled early next month.

Centre owes Rs 3 trillion to states and industry amid Covid-19 outbreak

Assocham President Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of I-T, VAT, and GST, and compensation

PM hints at lockdown extension till Apr 30; industrial activity may begin

The motto of the government earlier was "jaan hai to jahaan hai", but now it is "jaan bhi jahaan bhi", the PM said

Centre releases another Rs 34,000 cr GST compensation to states, more soon

States, so far, have been paid pending dues till November and the remaining will be cleared in phases soon

Govt set to release Rs 20,000 cr pending GST compensation to states soon

second fiscal stimulus likely to be announced soon

Centre releases Rs 19,950 crore as GST compensation to states and UTs

This is for the first time that the Centre has given compensation to states for one month only

Centre releases Rs 19950 cr GST compensation to states, total at Rs 1.2 trn

In a statement, the finance ministry said Rs 19,950 crore was released to states and union territories on last Monday