NEW DELHI: The CAG discovered that the Union government in the first two years of the GST implementation erroneously withheld Rs 47,272 crore of GST compensation cease It was specifically intended to be used to compensate the states for lost income. In his audit report on the government accounts, the …
Read More »21 states accept Rs 97,000 crore loan proposal to cover GST deficit
NEW DELHI: Up to 21 states, mostly governed by the BJP or parties that have supported it on various issues, have chosen to borrow Rs 97 billion to comply with GST revenue shortfall in the current fiscal, sources said Sunday. The states and territories of the union (UT) that have …
Read More »FM signals openness to discuss more GST compensation options to states
“We will discuss and take a call on how to borrow and solve the income deficit (GST). We have given you two options. If they are not acceptable to them, we will discuss it and find a solution. But that doesn’t mean we don’t want to compensate, “Sitharaman said in …
Read More »Eight opposition parties protest the non-payment of GST quotas, Congress is not invited | India News
NEW DELHI: Leaders of eight opposition parties held an anti-government protest at the Parliament compound on Thursday, demanding GST fees. Congress the leaders were absent from the protest. At a press conference after the protest, Trinamool Congress (TMC) deputy and national spokesman Derek O’Brien said the largest opposition party was …
Read More »GST row: 13 states send options
Representative image NEW DELHI: At least 13 states have offered their loan options, proposed by the GST Council, to address your compensation deficit and six more states: Goa, Assam, Arunachal Pradesh, Nagaland, Mizoram and Himachal Pradesh – It is expected to do so shortly, sources from the Finance Ministry said …
Read More »At least 13 states indicate loan options to bridge the GST income gap
New Delhi: At least 13 states have offered their loan options that were discussed at the Goods and Services Tax (GST) Council meeting last month to fill their GST income gap. Another six states are expected to give their option in the next two days, said a person familiar with …
Read More »The appointment of Adhir Ranjan as head of Bengal could make things difficult for Congress in the session of Parliament
File photo of Congressional Leader Adhir Ranjan Chowdhury. Things look tough now as Chowdhury is also the congressional leader in Lok Sabha, which means he needs to reach out to other opposition parties. CNN-News18 Last update: September 10, 2020 9:03 AM IST FOLLOW US: The congressional appointment in Bengal could …
Read More »As some states are opposed to borrowing money, Andhra Pradesh Prime Minister Jaganmohan Reddy says it is the only way to overcome the GST deficit.
Andhra Pradesh Chief Minister Jaganmohan Reddy has said that borrowing is the only way to overcome the crisis facing states amid the Center’s inability to repay the Rs 2.35 lakh crore shortfall in their participation in income from the goods and services tax (GST) this financial year. “The only way …
Read More »‘The only way to overcome the GST crisis is to borrow money’ – Andhra CM Jaganmohan Reddy
Andhra Pradesh Prime Minister Jaganmohan Reddy spoke with Vinod Sharma about the late GST payments, the new education policy, the three-capital system, and his YSR Congress Party’s relationship with the Bharatiya Janata Party, among others. themes. Edited excerpts: The Center has lagged behind in paying GST offsets to states. If …
Read More »Center clears things up about GST quotas
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 …
Read More »