GST Compensation notification

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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Rajasthan opts Option-1 to meet GST implementation shortfall

Release ID: 1670379 (05/11/2020)

The Government of Rajasthan 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 21 other States and 3 Union Territories (Delhi, Jammu & Kashmir and Puducherry) who have opted for Option-1. ...

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GST compensation: Govt facilitated loans of Rs 12,000 crore to States/UTs

Release ID: 1669467 (02/11/2020)

Central Government releases Rs 6,000 crore as second tranche to 16 states and 3 Union Territories on account of GST compensation under Special Borrowing Window. Ministry of Finance has facilitated loans of Rs 12,000 crore till date under the Special Window to States/UTs...

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Shortfall due to GST implementation – Tamil Nadu goes for Option-1

Release ID: 1664365 (14/10/2020)

Tamil Nadu goes for Option-1, gets permission to borrow an additional amount of Rs 9,627 crore. 21 States now allowed to mobilize Rs.78,452 crore in addition to Rs 1.1 lakh crore to meet the shortfall arising out of GST implementation...

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Tamil Nadu CM rejects GST Compensation Options suggested by Center

Press Rel No. 635 (31/08/2020)

As you are aware one of the most crucial fiscal issues facing the nation currently is the payment of compensation on account of the short fall in revenue post implementation of GST. Most States, and in particular Tamil Nadu, agreed to the implementation of GST and to support the legislation on the basis of the unequivocal commitment given...

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Borrowing options to meet GST Compensation requirement for 2020-21

Release ID: 1649485 (29/08/2020)

The two borrowing options to meet the GST Compensation requirement for 2020-21 consequent to the discussions in the 41st meeting of the GST Council held on 27th August, 2020 has been communicated to States,as per the document attached with this press note, to communicate their preference within seven working days....

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CBIC disallows refund of compensation cess in case of inverted duty structure for tobacco and manufactured tobacco substitutes

Notification No.3/2019-Compensation Cess (Rate) [G.S.R. 708(E)] (30/09/2019)

CBIC disallows the refund of compensation cess in case of inverted duty structure for tobacco and manufactured tobacco substitutes vide Notification No. 3/2019-Compensation Cess (Rate) dated 30th September, 2019. Refund of Compensation Cess under inverted duty structure No refund of unutilised ITC of compensation cess would be allowed in ...

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Changes in Compensation Cess rate on Caffeinated Beverages & Motor vehicles

Notification No. 2/2019-Compensation Cess (Rate) [G.S.R. 707(E)] (30/09/2019)

Seeks to amend notification No. 1/2017-Compensation Cess (Rate), dated 28.6.2017 on the recommendations of the GST Council in its 37th meeting dated 20.09.2019 to specify Changes in Compensation Cess rate on Caffeinated Beverages & Motor vehicles vide Notification No. 2/2019-Compensation Cess (Rate) dated 30th September, 2019. GOVERNM...

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GST Compensation Cess exemption on goods supply by retail outlet established in departure area of international airport

Notification No. 1/2019-Compensation Cess (Rate) [G.S.R. 464(E)] (29/06/2019)

CBIC Exempts any supply of goods by a retail outlet established in the departure area of an international airport, beyond the immigration counters, to an outgoing international tourist from goods and services tax compensation cess vide Notification No. 1/2019-Compensation Cess (Rate) dated 29th June, 2019....

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Reduction in GST cess rates for leasing of motor vehicles

Notification No. 6/2017-Compensation Cess (Rate) [G.S.R. 1282(E)] (13/10/2017)

In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 8 of the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following amendments in the notification of the Government of India, in the Ministry of Finan...

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CBEC notifies compensation cess rate on the leasing of motor vehicles

Notification No. 7/2017-Compensation Cess (Rate) [G.S.R. 1297(E)] (13/10/2017)

G.S.R. (E).- In exercise of the powers conferred by sub-section (2) of section 8 of the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017), the Central Government, on the recommendations of the Council...

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Exporter eligible for refund of Compensation Cess paid on exports

Circular No. 1/1/2017-Compensation Cess (26/07/2017)

In this regard section 8 of the Goods and Services tax (Compensation to States) Act, 2017 hereinafter referred to as [GSTC Act, 2017] provides for levy and collection of Compensation Cess and reads as under...

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GST (Compensation to States) Act, 2017 applicable from 1st July 2017

Notification No. 1/2017-Goods and Services Tax Compensation (28/06/2017)

Seeks to appoint the 1st day of July, 2017, as the date on which all the provisions of Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017) shall come into force...

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