Gst Compensation Cess
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West Bengal Says Centre Owes It Rs 2,409 Crore As GST Compensation
The West Bengal government on Friday night said the Centre owes it Rs 2,409.96 crore, responding to Union Finance Minister Nirmala Sitharaman's statement that the state has not sent GST compensation cess claim with accountant general (AG) certificate
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GST Rates, Compensation, Top Takeaways From Council Meeting: 10 Points
The Goods and Services Tax (GST) Council meeting ended its two-day deliberations today, where a host of issues like rate rationalisation, levying 28 per cent tax on online gaming and horse racing and the vexed issue of continuing GST compensation to states, were discussed.
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GST Compensation Cess Levy Extended By Nearly Four Years; Until March 2026
The government has extended the time for levy of GST compensation cess by nearly 4 years till March 31, 2026.
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States Demand GST Compensation Extension For 5 Years During Pre-Budget Meeting
Several states have sought extension of the GST compentation cess regime for another five years
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Opposition-Ruled States Demand Extension Of GST Compensation Regime
Finance ministers of Opposition-ruled states have demanded that the GST compensation cess regime be extended beyond June 2022.
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GST Council Decides To Extend Compensation Cess Till March 2026
The Goods and Services Tax (GST) Council on Friday decided to extend compensation cess till March 2026 for repaying loans. "Detailed financial statements have been worked out, based on which we learn that cess will have to be collected till March 2026, purely to pay back loans taken between 2020-21 and 2021-22," Finance Minister Nirmala Sitharaman ...
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No "Diversion" Of GST Compensation, Says Centre After Auditor's Report
Sources in the Finance Ministry have dismissed allegations ofa "diversion" of Rs 47,271 crore from the GST Compensation Cess Fund and saidall amounts due to state and union territories for 2017/18 and 2018/19 had been fully paid
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"Betrayal": Mamata Banerjee, 5 Other Chief Ministers Write To PM Over GST
The chief ministers of six non-BJP-ruled states have written to the centre to remind it of its "constitutional" responsibilities in the stand-off over the Rs 2.35 lakh crore shortfall in GST compensation and financial relief (from the pandemic) due to states. Mamata Banerjee (Bengal), Pinarayi Vijayan (Kerala), Arvind Kejriwal (Delhi), Edappadi K P...
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GST Council Meet: Centre Gives States Two Options To Compensate Rs 2.35 Lakh Crore Tax Shortfall
Centre asked the states to borrow money from the market in order to meet the Rs 2.35 lakh crore compensation shortfall
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Nirmala Sitharaman To Chair GST Council Meeting, Will Discuss Compensation To States
GST Council Meet: The meeting will discuss compensation to states and attempt to evolve a consensus on borrowing from the market to reimburse states for their revenue shortfall.
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"We Feel Embarrassed": States To Nirmala Sitharaman Over GST Compensation
It is embarrassing to come and ask for money, Union Finance Minister Nirmala Sitharaman was told by counterparts from Kerala, Rajasthan, Punjab, Madhya Pradesh, Chhattisgarh and Delhi at a meeting in Delhi today
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GST Cess: Bill Allowing Cess Increase On Luxury Cars Passed By Lok Sabha
In yet another unexpected move, the Lok Sabha has approved a bill to hike Cess on luxury vehicles from 15 per cent to 25 per cent. The Cess will be applicable along with the 28 per cent GST that is already applicable on cars that are over the 4-metre length category. In a statement, the Finance Minister Arun Jaitley said that the Cess on luxury car...
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Bill On GST Compensation Cess To Be Debated In Lok Sabha Today
A bill that would replace an ordinance through which tax rates on various motor vehicles were hiked to a maximum of 25 per cent under the Goods and Services Tax or GST, will come up for consideration in the Lok Sabha today.
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Centre Releases Rs 8,698 Crore To States To Compensate For GST Revenue Loss
All states barring Rajasthan and Arunachal Pradesh, have been given compensation for the first two months after GST rollout.
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GST Collection Stands At Rs 92,150 Crore In September
Collection under compensation cess stood at Rs 7,988 crore, of which Rs 722 crore is compensation cess from imports in September.
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West Bengal Says Centre Owes It Rs 2,409 Crore As GST Compensation
The West Bengal government on Friday night said the Centre owes it Rs 2,409.96 crore, responding to Union Finance Minister Nirmala Sitharaman's statement that the state has not sent GST compensation cess claim with accountant general (AG) certificate
-
GST Rates, Compensation, Top Takeaways From Council Meeting: 10 Points
The Goods and Services Tax (GST) Council meeting ended its two-day deliberations today, where a host of issues like rate rationalisation, levying 28 per cent tax on online gaming and horse racing and the vexed issue of continuing GST compensation to states, were discussed.
-
GST Compensation Cess Levy Extended By Nearly Four Years; Until March 2026
The government has extended the time for levy of GST compensation cess by nearly 4 years till March 31, 2026.
-
States Demand GST Compensation Extension For 5 Years During Pre-Budget Meeting
Several states have sought extension of the GST compentation cess regime for another five years
-
Opposition-Ruled States Demand Extension Of GST Compensation Regime
Finance ministers of Opposition-ruled states have demanded that the GST compensation cess regime be extended beyond June 2022.
-
GST Council Decides To Extend Compensation Cess Till March 2026
The Goods and Services Tax (GST) Council on Friday decided to extend compensation cess till March 2026 for repaying loans. "Detailed financial statements have been worked out, based on which we learn that cess will have to be collected till March 2026, purely to pay back loans taken between 2020-21 and 2021-22," Finance Minister Nirmala Sitharaman ...
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No "Diversion" Of GST Compensation, Says Centre After Auditor's Report
Sources in the Finance Ministry have dismissed allegations ofa "diversion" of Rs 47,271 crore from the GST Compensation Cess Fund and saidall amounts due to state and union territories for 2017/18 and 2018/19 had been fully paid
-
"Betrayal": Mamata Banerjee, 5 Other Chief Ministers Write To PM Over GST
The chief ministers of six non-BJP-ruled states have written to the centre to remind it of its "constitutional" responsibilities in the stand-off over the Rs 2.35 lakh crore shortfall in GST compensation and financial relief (from the pandemic) due to states. Mamata Banerjee (Bengal), Pinarayi Vijayan (Kerala), Arvind Kejriwal (Delhi), Edappadi K P...
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GST Council Meet: Centre Gives States Two Options To Compensate Rs 2.35 Lakh Crore Tax Shortfall
Centre asked the states to borrow money from the market in order to meet the Rs 2.35 lakh crore compensation shortfall
-
Nirmala Sitharaman To Chair GST Council Meeting, Will Discuss Compensation To States
GST Council Meet: The meeting will discuss compensation to states and attempt to evolve a consensus on borrowing from the market to reimburse states for their revenue shortfall.
-
"We Feel Embarrassed": States To Nirmala Sitharaman Over GST Compensation
It is embarrassing to come and ask for money, Union Finance Minister Nirmala Sitharaman was told by counterparts from Kerala, Rajasthan, Punjab, Madhya Pradesh, Chhattisgarh and Delhi at a meeting in Delhi today
-
GST Cess: Bill Allowing Cess Increase On Luxury Cars Passed By Lok Sabha
In yet another unexpected move, the Lok Sabha has approved a bill to hike Cess on luxury vehicles from 15 per cent to 25 per cent. The Cess will be applicable along with the 28 per cent GST that is already applicable on cars that are over the 4-metre length category. In a statement, the Finance Minister Arun Jaitley said that the Cess on luxury car...
-
Bill On GST Compensation Cess To Be Debated In Lok Sabha Today
A bill that would replace an ordinance through which tax rates on various motor vehicles were hiked to a maximum of 25 per cent under the Goods and Services Tax or GST, will come up for consideration in the Lok Sabha today.
-
Centre Releases Rs 8,698 Crore To States To Compensate For GST Revenue Loss
All states barring Rajasthan and Arunachal Pradesh, have been given compensation for the first two months after GST rollout.
-
GST Collection Stands At Rs 92,150 Crore In September
Collection under compensation cess stood at Rs 7,988 crore, of which Rs 722 crore is compensation cess from imports in September.
