GST Compensation

41st GST Council Meeting- Gloomy picture for States

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....

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राज्यों की क्षतिपूर्ति का मामला – आखिर क्या हुआ जीएसटी की 41 वीं मीटिंग में

Goods 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...

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Refund on Compensation Cess under GST regime

Goods 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 […]...

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12th GST compensation shortfall Instalment of Rs. 6000 cr released to States

Goods 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....

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GST compensation shortfall- 10th Instalment of Rs. 6,000 crore released

Goods 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...

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Highlights of 43rd GST Council meeting held on 12th October 2020

Goods 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 ...

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Compliance of GST (Compensation to States) Act, 2017 is Not Mandatory

G. 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...

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9th Instalment of Rs.6,000 crore released to States

Release 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...

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7th Instalment of Rs. 6000 crore released to States to meet GST compensation shortfall

Release 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....

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GST compensation shortfall – 6th Instalment of Rs.6000 crore released

Release 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...

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All States choose Option-1 to meet GST implementation shortfall

Release 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...

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All States except Jharkhand choose Option-1 to meet GST implementation shortfall

Release 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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Recent Posts in "GST Compensation"

12th GST compensation shortfall Instalment of Rs. 6000 cr released to States

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 More

GST compensation shortfall- 10th Instalment of Rs. 6,000 crore released

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 More

9th Instalment of Rs.6,000 crore released to States

Release 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 the States...

Read More

7th Instalment of Rs. 6000 crore released to States to meet GST compensation shortfall

Release 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 More

GST compensation shortfall – 6th Instalment of Rs.6000 crore released

Release 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 More

All States choose Option-1 to meet GST implementation shortfall

Release 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 More

All States except Jharkhand choose Option-1 to meet GST implementation shortfall

Release 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 decided in favour of Option-1....

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Punjab chooses Option-1 to meet the GST implementation shortfall

Release ID: 1676701 (28/11/2020)

Governments of Punjab has communicated acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation. The number of States who have chosen this option has gone up to 26. All the 3 Union Territories with Legislative Assembly (i.e. Delhi, Jammu & Kashmir and Puducherry) have also decided in favour of Option-1....

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Kerala & West Bengal also chooses Option-1 to meet GST implementation shortfall

Release ID: 1675673 (25/11/2020)

Governments of Kerala and West Bengal have communicated their acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation.  The number of States who have chosen this option has gone up to 25. All the 3 Union Territories with Legislative Assembly (i.e. Delhi, Jammu & Kashmir and Puducherry) have also decided in ...

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Telangana opts Option-1 to meet GST implementation shortfall

Release ID: 1673501 (17/11/2020)

The Government of Telangana has communicated its acceptance for Option-1 out of the two options suggested by the Ministry of Finance to meet the shortfall in revenue arising out of GST implementation.  The State has now joined 22 other States and 3 Union Territories (Delhi, Jammu & Kashmir and Puducherry) who have opted for Option-1. ...

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