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GST COMPENSATION EXTENSION
GST 2.0 Inverted duty structure hurts FMCG, Pharma: Expert flags concernsIndian enterprises are navigating challenges posed by the Goods and Services Tax. The inverted duty scenario is particularly affecting FMCG...- Compensation cess: GoM may seek more time to submit reportA group of ministers (GoM) will likely request the GST Council to extend the December 31 deadline for their report on compensation cess by ...
- GoM may seek extension to conclude discussions and submit findings on compensation cessA Group of Ministers (GoM) may seek a three-month extension to conclude discussions on the future of the GST compensation cess beyond March...
- Centre clears Rs 8,800 cr GST dues: Karnataka CM Basavaraj BommaiRegarding extension of the GST compensation beyond five years, Bommai said the central government has made it clear that the GST compensati...
- Basavaraj Bommai confident about GST compensation, Siddaramaiah says its denial will cost Rs 20,000 crore to KarnatakaKarnataka has been at the forefront among the states in seeking an extension of GST compensation on grounds that its tax revenues have not ...
- 12 states seek at least two-year extension for GST compensationGST, which on Thursday completes five years of its roll out, subsumed 17 central and state levies. Under the regime, states were promised c...
- 12 states demand extension of GST compensation beyond JuneA final decision is likely to be taken in the next GST council meeting in the first week of August, Finance Minister Nirmala Sitharaman sai...
- Extension of GST compensation needed for growth: Bengal minister"We said that extension of compensation is required to support growth which is echoed by certain BJP-ruled states as well. If that is not e...
- GST Council defers tax on casinos, lottery; no decision on extending GST compensation to statesThe GST Council deferred the decision on levying a 28% tax on casinos, online gaming, horse racing and lottery pending more consultations w...
- Drop in GST revenues: Bommai says he’s confident GST council will extend compensationKarnataka has been on the forefront among the states in seeking an extension of GST compensation on grounds that its tax revenues have not ...
- Government notifies GST compensation cess extension to March 2026GST Compensation Cess is levied by the Goods and Services Tax (Compensation to States) Act 2017. The object of levying this cess is to comp...
- Many states request GST compensation extension beyond 5 years: FM Nirmala SitharamanThe shortfall is calculated assuming a 14 per cent annual growth in GST collections by states over the base year of 2015-16. The 5-year per...
- States demand GST compensation for 5 more years after 2022Rajasthan, Tamil Nadu, Chhattisgarh, Kerala, West Bengal, Delhi backed the demand for an extension of the compensation period.
- States pitch for continuation of GST compensation for another 5 yearsGST compensation to states for revenue shortfall resulting from subsuming of local taxes such as VAT in the uniform national tax, Goods and...
- Many states likely to seek extension of GST compensation beyond 2022Finance minister Nirmala Sitharaman said on Friday that till 2026 compensation cess will be used to pay for back-to-back loans of ₹2.69 lak...
- Will petrol and diesel come under GST? Council to take call in first in-person meeting since start of pandemicThe GST council may decided today on a range of topics including whether to include petroleum products under GST ambit which will significa...
- GST Council to discuss compensation cess extension, vaccine tax exemption on SaturdayGST compensation of Rs 1.58 lakh crore was planned to be financed through back-to-back loans to be raised by the Centre while Rs 1 lakh cro...
- GST Meet: Karnataka to seek tax relief on Covid related items“We will request for a reduction in GST rates on these items, not complete waiver of taxes,” Home Minister Basavaraj Bommai, who represents...
- GST compensation fund, cess can stay beyond 5 years if steep fall in revenue continues: Attorney GeneralThe country’s top law officer, however, said any decision to extend the cess beyond the five-year period would require endorsement by a thr...
- States seek GST compensation beyond 2022 to tide over Covid-19 crisisState finance ministers, during a video conference on Monday, also discussed issues arising out of the lockdown, including the urgent requi...
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