Tag Archives: GST Council

NEW DELHI : Monday’s GST Council meeting may turn into a stormy affair as states not governed by the BJP are still at odds with the Center on the issue of compensation. While 21 states, mostly governed by the BJP or parties that have supported it on issues, had opted …

Out of the 22 but one, all the states have chosen to borrow only to the extent of their revenue shortfall from the implementation of the GST. However, Mizoram chose to borrow the entire shortfall from GST this year, including lost revenue due to COVID-19, said a government official, seeking …

GST: States have been asking the center to pay their taxes on goods and services New Delhi: Twenty-one states have given their borrowing option proposed by the goods and services tax council to cover the deficit in the center’s compensation amid the coronavirus pandemic, sources said. These 21 states opted …

Center is hard-pressed to pay GST fees to states amid coronavirus crisis New Delhi: Thirteen states have given their borrowing options proposed by the goods and services tax council to cover the deficit in the center’s compensation amid the coronavirus pandemic, sources from the Finance Ministry said. Six more states, …

The Union government will honor its commitment to compensate states for the deficit in the collection of taxes on goods and services (GST) despite the strain on their finances due to the pandemic, said a senior government official. A portion of the compensation promised to the states, ₹Rs 97 billion …

NEW DELHI : The full amount of compensation owed to states for the deficit in the collection of the goods and services tax (GST) will be “paid”, the union government said on Monday. Part of it, ₹Rs 97 billion would be paid immediately and the balance over a deferred period …

Over the past few weeks, there has been a heated discussion between the central and state governments about offsetting the goods and services tax (GST). The Center had assured states compensation for any shortfall in tax collection through 2022. Mint explores the issue. Why is tax revenue so stressed? Tax …

NEW DELHI: The government is unlikely to give in to demands to change the goods and services tax (GST) offset formula despite opposition-ruled states requiring the Center to borrow from the market and transfer funds to cover the deficit between real collections and the promised growth of 14%. Senior government …

The uncontrolled spread of the coronavirus pandemic across the country has put India’s economy, society and politics under unprecedented strain. A glimpse of the scale of the economic destruction caused was revealed at the 41st meeting of the GST (Goods and Services Tax) Council, where the deficit in compensation payment …

States have been asking the center to pay off goods and services tax (GST) Chandigarh: Haryana’s Chief Deputy Minister Dushyant Chautala has asked the center to pay the state goods and services compensation (GST) of at least Rs 5,840 crore that has been pending for the past four months, according …