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Goods and Services Tax - 41st GST Council meeting was held with the sole object of resolving the issue of lack of funds to compensate the states, which was initially promised to the States at the time of introduction of Goods and Service Tax Act....
Read MoreGoods and Services Tax - राज्यों की क्षतिपूर्ति का मामला आखिर क्या हुआ जीएसटी की 41 वीं मीटिंग में कोविड -19 के प्रभाव से केंद्र और राज्यों के राजस्व में भार...
Read MoreGoods and Services Tax - What is Compensation Cess :For the purpose of providing compensation to the States for any loss of revenue post GST regime, compensation cess (CC) provisions were introduced for a period of 5 years (till 30.6.2022). Following goods are covered [Schedule u/s 8(2) of GST (compensation) Act or CESS Act] on which CC would be levied […]...
Read MoreGoods and Services Tax - 12th Instalment of Rs. 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of Rs. 72,000 crore released so far to all States and UTs with legislation. This is in addition to additional borrowing permission of Rs. 1,06,830 crore granted to the States....
Read MoreGoods and Services Tax - 10th Instalment of Rs.6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of Rs.60,000 crore released so far to all States and UTs with legislation. This is in addition to additional borrowing permission of Rs.1,06,830 crore granted to the States...
Read MoreGoods and Services Tax - Highlights of 43rd GST Council meeting held on 12th October 2020 which was continuation of earlier meeting Today’s meeting was a continuation of the 42nd GST Council meeting, to discuss one agenda item, namely no. 9A. Finance Minister Smt. Nirmala Sitharaman has chaired the GST Council meeting via video conferencing in the presence ...
Read MoreG. Sundarrajan Vs Union of India (Madras High Court) - G. Sundarrajan Vs Union of India (Madras High Court) The issue under consideration is whether compliance of Goods and Services Tax (Compensation to States) Act, 2017 is mandatory? High Court states that, the mere employment of the word “shall” in Section 7(1) of the Goods and Services Tax (Compe...
Read MoreRelease ID: 1684149 - (28/12/2020) - 9th Instalment of Rs.6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of Rs.54,000 crore released so far to all States and UTs with legislation. This is in addition to additional borrowing permission of Rs.1,06,830 lakh crore granted to t...
Read MoreRelease ID: 1680565 - (14/12/2020) - 7th Instalment of Rs.6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of Rs.42,000 crore released so far to all States and UTs with legislation. This is in addition to additional borrowing permission of Rs.1,06,830 granted to the States....
Read MoreRelease ID: 1679433 - (09/12/2020) - The Ministry of Finance has released the weekly instalment of Rs. 6,000 crore to the States to meet the GST compensation shortfall. Out of this, an amount of Rs. 5,516.60 crore has been released to 23 States...
Read MoreRelease ID: 1678484 - (05/12/2020) - Jharkhand has become the latest State to go for Option-1. Jharkhand will get Rs. 1,689 crore through special borrowing window to meet the GST implementation shortfall. Permission to raise additional Rs. 1,765 crore through borrowings also issued to Jharkhand...
Read MoreRelease ID: 1677891 - (03/12/2020) - Government of Chhattisgarh has communicated its acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation. The number of States who have favoured Option-1 has gone up to 27. All States except Jharkhand and all the 3 Union Territories with Legislative Assembly have decide...
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Release ID: 1684149 - (28/12/2020) -
Release ID: 1680565 - (14/12/2020) -
Release ID: 1679433 - (09/12/2020) -
Release ID: 1678484 - (05/12/2020) -
Release ID: 1677891 - (03/12/2020) -
Release ID: 1676701 - (28/11/2020) -
Release ID: 1675673 - (25/11/2020) -
Release ID: 1673501 - (17/11/2020) -
