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Tuesday, October 20, 2020

GST Council meeting


GST council meet: Manpreet attacks Centre, says give us compensation as per law

October 13, 2020 5:45 am

Speaking at the virtual GST council meet on Monday, Punjab FM Manpreet Singh Badal said, “We are thus close to setting up some dangerous precedents: Goodbye to Constitution. Goodbye to compensation law. Goodbye to minutes of the council meetings. Goodbye to AG’s opinion.’’

Not keen on voting at GST Council meet, opposition states to push for dispute resolution mechanism

October 12, 2020 5:53 am

Kerala Finance Minister Thomas Isaac said while the resolution adopted by the Council for borrowing options will be binding on all states, it gives rise to a dispute on the manner in which compensation mechanism is being decided contrary to what is specified in the law.

GST Council can vote on borrowing options: Amit Mitra on compensation

October 10, 2020 12:55 am

West Bengal Finance Minister Amit Mitra said the Council has to find a way to reach consensus, but didn’t explicitly rule out voting.

Daily briefing: JD(U) calls LJP's exit from alliance suicidal act; Trump returns to White House

October 06, 2020 8:49 am

From the string of FIRs filed across Uttar Pradesh to probe attempts to “incite caste and communal tension" over the Hathras incident to why the outgoing Lokayukta in Goa wants the post abolished, read the top stories from print edition today.

GST deadlock: Opposition states reject compensation plan

October 06, 2020 7:38 am

In the previous meeting on August 27, the Centre had proposed two options to states: borrow Rs 97,000 crore from a special window facilitated by the RBI or the complete shortfall of Rs 2.35 lakh crore from the market.

Compensation cess amounting to Rs 20,000 crore to be given to states tonight: Sitharaman

October 05, 2020 8:33 pm

Nirmala Sitharaman said 21 states had opted for one of the two options the Centre had previously suggested for borrowing to meet the shortfall in GST collections.

GST Council Meet: Some states may seek borrowing plan revamp, mechanism to resolve disputes

October 05, 2020 4:38 am

The opposition-ruled states are also likely to raise objections to the calculation of estimates given for the borrowing options, which assumes a high 10 per cent growth for the compensation cess deficit projections.

Pending compensation dues to be a thorny issue at GST meet tomorrow

October 04, 2020 7:38 pm

The dependence of states on compensation payments as a share of the protected revenues, or the amount they are entitled to get as per the GST (Compensation to States) Act, has shot up to nearly 58 per cent in April-July from 24.2 per cent seen in the previous financial year.

42nd GST Council meet deferred to first week of October

September 12, 2020 11:20 am

The deferment comes in the backdrop of the ongoing tussle between the Centre and states over the pending compensation issue.

Citing strained finances, states ask Centre to borrow

August 29, 2020 12:30 am

State Bank of India in a research report Friday also proposed Centre to make arrangements with the RBI to facilitate such borrowing.