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Bengal is among the 10 states which have not submitted the accountant general’s report to settle GST compensation, said the finance ministry officials. The other states they mentioned were Andhra Pradesh, Goa, Kerala, Mizoram, Nagaland, Punjab, Sikkim and Uttarakhand, and the Union Territory of Jammu and Kashmir. Finance Minister Nirmala Sitharaman, after the GST Council […]
In the delay of Goods and Services Tax (GST) compensation to some states the Union Finance minister, Nirmala Sitharaman has attributed to the unavailability of Accountant General (AG)’s authenticated certificates. As per the Finance minister, within the statute, AG’s certification is mandatory between the Centre, states, and the AG (accountant general), and it is an […]
The Karnataka Appellate Authority for Advance Ruling ruled that Goods and Services Tax (GST) is leviable on reimbursement of the stipend to trainees on the grounds of the industry partner. The petitioner, the Teamlease Educational Foundation, an authorized National Employability Enhancement Mission (NEEM) facilitator partners through several trainers and Employers/Companies/Industry (industry partners) for imparting training […]
The central government has declared to allocate Rs 30,000 crore as GST compensation to states for the financial year FY 21, the finance ministry said yesterday. Interestingly, last week while giving a reply in the budget session, Finance Minister Nirmala Sitaraman had acknowledged in the Rajya Sabha that for the month of March 2021, States […]
The union government has given Rs 84k cr till date to states beneath the specific borrowing window to bridge up the GST shortfall, while the provisional consideration of the GST stands at Rs 2.06 lakh cr amid April-November 2020. The GST consideration of Rs 40k cr has been furnished towards the states and UTs so […]
The center is proposed by the Rajasthan government to prolong the duration of authorization of goods and services tax (GST) exemption to states for 5 years from 2022 to June 2027, concerning the weak fiscal situation of the states in the lockdown. The states urged a rise in the centers’ share about the sponsored policy […]
To the states Rs, 6000 cr as the 10th installment is given by the union so as to bridge the gap of GST compensation and thus releasing the amount with the sum of Rs 60000 cr. Out of this Rs, 5,516.60 crores have been issued to 23 states and Rs 483.40 crore to Delhi along […]
The bridge between the collection of GST cess along with the revenue shortfall seen by the states to implement the goods and service tax can lie between anywhere from Rs 5 lakh crore to Rs 7 lakh crore as by June 2022 as from Rs 2.35 lakh crore expected for this year, the 15th finance […]
Puducherry has accepted the proposal of the center to borrow Rs 1.1 trillion to bridge the shortfall for goods and service tax (GST) collection INR 1 trillion GST has been collected for the very first time in the eight months in October post unlocking from September. Any month GST collection resembles the business received in […]
