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GOODS AND SERVICE TAX (GST) NEWS

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GST revenue shortfall: Kerala CM urges PM to raise borrowing limit

November 19, 2020 2:16 am

Kerala Chief Minister Pinarayi Vijayan, in his letter dated November 11, said states are justified in this request.

Tamil Nadu gets nod to borrow extra; total 21 states pick option 1

October 15, 2020 12:28 am

With Tamil Nadu joining the states that have opted to borrow for bridging the GST compensation deficit, 21 states have been allowed to borrow 0.5% of the GSDP, totalling to Rs 78,542 crore.

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For the future of Centre-state relations, Centre should borrow to fund states' GST loss

October 12, 2020 9:09 am

So far deliberations in the council have been carried out in the spirit of camaraderie. But pressuring states on the basis of political strength will have adverse consequences for the country’s federal structure.

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On GST compensation, the way out requires states to come forward to work with Centre

September 11, 2020 10:03 am

Sushil Kumar Modi writes: It is heartening to note that the Centre has not reneged on its promise to find ways to compensate the states for loss of revenue. I think the states should come forward and work with the Centre in the true spirit of cooperative federalism that the Council has come to be known for these past few years.

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GST row: Mamata claims ‘betrayal’; Karnataka opts for special window

September 04, 2020 8:18 am

Meanwhile, BJP-ruled Karnataka on Wednesday said it has decided to opt for the first option. The decision was taken after Chief Minister B S Yediyurappa, who also holds the Finance portfolio, held discussions with Finance department officials.

Naushad Forbes: ‘Govt needs to put cash in hands of people to spend it ... we should use this crisis to build infrastructure deficit’

September 03, 2020 7:58 am

Stating that there is a disconnect between what is being publicly said and what needs to be done immediately in the short run, he said that if you publicly deny that there is a big problem, you are removing the scope for significant action in the immediate term.

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Karnataka to seek lower GST compensation with option to borrow up to 1% of GSDP

September 04, 2020 8:18 am

Chief Minister B S Yediyurappa Wednesday said the state would opt for lower compensation so as to be in a position to unconditionally borrow up to one per cent (Rs 18,036 crore) of GSDP.

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August GST mop-up at Rs 86,449 crore, 12% lower than year-ago month

September 02, 2020 10:14 am

While the first quarter GST collection in FY21 was only 59 per cent of the same period last year, the collection improved to nearly 70 per cent in April-July period compared with the corresponding period a year ago.

Thomas Isaac on GST compensation: This is a Constitutional right of states ... Centre should borrow and provide

September 02, 2020 10:36 am

"We are not just rejecting the proposals. We are putting forward a third option: central government borrows the full compensation and the states will agree to extend the cess for sufficiently long period to recoup this amount," Kerala Finance Minister said.