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GST COMPENSATION GAP
When does a country reform?India's recent reforms, including GST and labor code changes, were driven by external pressures, not domestic crises. Historically, India r...- Rs 10.9 lakh crore burden: Iran shock can take a load off India's backRising oil prices triggered by the Iran conflict are pushing India to accelerate its shift away from fossil fuels, with the government fast...
- GST reforms will mostly help poor; Andhra govt failed to demand compensation: CPI(M)CPI(M)'s V Srinivas Rao acknowledged that GST reforms could lower prices and benefit the poor, but criticized the Andhra Pradesh government...
- GST Council meet to discuss rate rationalisation on September 9, final decision later: FMFinance Minister Nirmala Sitharaman announced that the upcoming GST council meeting will address the rationalisation of tax rates, includin...
- Centre may prepay market loans taken to compensate states for GST revenue loss during Covid yearsThe compensation cess was initially brought in for five years to make up the revenue shortfall of states, following the implementation of t...
- GST Council to discuss on apportioning, renaming compensation cess beyond March 2026The GST Council will discuss the future of the compensation cess on luxury and demerit goods collected to repay loans taken by the Indian g...
- 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...
- What opposition-ruled states want from the 47th GST Council meetingThe compensation to states that is coming to an end in June is one of the major issues before the GST Council. The meeting is likely to tak...
- GST Council Meet: Rate changes on some items on cards, states' compensation tops agendaApart from rate rationalisation, the Council is expected to see a stormy discussion around compensation payout to states with Opposition-ru...
- How to boost goods and services tax revenue in the post-compensation eraAccording to a 2021 RBI study of state finances (bit.ly/3NpgRZ5), the average growth rate in collection from subsumed taxes during the thre...
- Centre releases Rs 17,000 crore as GST compensation to statesAs per the decision of GST Council, back to back loan of Rs.1.59 lakh crore has already been released in lieu of shortfall in release of GS...
- FY'22 GST compensation shortfall estimated at Rs 2.69 lakh croreThe Centre expects to collect over Rs 1.11 lakh crore through cess on luxury, demerit and sin goods which will be given to the states to co...
- Over Rs 2.06 lakh crore GST compensation to states due for Apr-NovThe balance GST compensation for the period April-May 2020 and for the full period June-November''20 is pending to all states/UTs due to in...
- States should stand firm, reject Centre's options on GST compensation cess: ChidambaramThe former finance minister said the states should not borrow as the liability to provide Goods and Services Tax (GST) compensation as well...
- Centre 'betrayed' states by transferring compensation cess to CFI, alleges SiddaramaiahPointing out that the cess collected was non-lapsable, which means it should be carried over to the next financial year, the former chief m...
- States need 'hard cash', govt's 'letter of comfort' has no value: Chidambaram on GST compensationHe asserted that the states need "hard cash" and if they are forced to borrow, the axe will inevitably fall on capital expenditure by the s...
- Congress leader P Chidambaram lauds 6 states for rejecting Centre's GST proposal"Congratulations to the finance ministers of Punjab, Chhattisgarh, Kerala, West Bengal, Telangana and Delhi for rejecting the bogus twin op...
- GST mop-up hit by Covid, 'act of God': CentreThe Centre had promised to compensate states if collection growth was under 14% in a year.
- Alarmed by falling revenue, FinMin looks at yet more GST tweaksOne of the options being considered is stepping up anti-evasion measures with a focus on top 30 taxpayers.
- Rs 20,000 crore surplus in GST compensation cess fund as of end-MarchIn the last fiscal, the government collected Rs 62,021 crore as cess on sin and luxury goods. This amount will make up for the compensation...
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