State leaders made the demand during a pre-budget consultation meeting held under the chairmanship of Finance minister Nirmala Sitharaman in Delhi
Shortfall in GST compensation to states in the current fiscal estimated at Rs 2.59 lakh crore, of which about Rs 1.59 lakh crore would have to be borrowed
The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of implementation of GST
The party announced a series of programmes against the "anti-farmer, anti-women, anti-poor and anti-people" policies of the BJP-led government at the Centre.
The former finance minister said the states should not borrow as the liability to provide GST compensation as well as the onus to find resources fall on the Centre
Nirmala Sitharaman, in the 41st meeting of GST Council on 27 August, ruled out paying compensation to states
Ahead of the GST Council meeting, the Bihar deputy CM said states have to be compensated to the tune of Rs 3.65 lakh crore in the current fiscal
GST compensation: Centre committing 'sovereign default' by not paying pending dues to states, says Congress
Congress leaders demanded that states should be compensated for the estimated Rs 6 lakh crore loss in revenues due to the COVID-19 pandemic
The attorney general has said that there is no obligation on the Central government to pay the GST compensation shortfall to the states.
Coronavirus Outbreak: Centre releases Rs 14,103 cr GST compensation to states; more to be released soon
In a bid to provide further relief to states amid the coronavirus outbreak, the finance ministry has released about Rs 34,000 crore in two phases to states as compensation for their revenue loss in the goods and services tax (GST) regime
GST rate slabs likely to be restructured post-Budget; Centre, state govts to discuss new rates: Report
As of now, there are four slabs under the GST regime — 5, 12, 18 and 28 percent. Goods and services under the 28 percent category also attract cess over and above the rate, which ranges between 1 and 25 percent.
Economic slowdown: Centre staring at Rs 63,200 cr shortfall in GST compensation cess collection, says report
As per a presentation made to the GST Council, the compensation requirement for states is expected to be about Rs 1.6 lakh crore for the ongoing fiscal, at a growth rate of 5 percent
GST compensation of 9 states may double to Rs 70,000 cr in FY'20; SGST collections likely to fall this fiscal: ICRA
Subdued economic growth and reductions in GST rates have resulted in a muted 3.7 percent rise in the headline GST collections in April-November 2019.
GST compensation: States say Centre staring at sovereign default; GST Council sees first-ever voting
In a development with far-reaching implications, non-BJP ruled states on Wednesday said the union government may be headed for a sovereign default as it has refused to assure them of paying on time the GST dues guaranteed to them through a Constitutional amendment
GST Council meet: Most states were opposed to change in slabs, hikes; concerns raised over govt paying compensation on time
The GST Council, comprising state finance ministers and headed by Finance Minister Nirmala Sitharaman, is the highest decision-making body on the indirect tax rates
Centre releases Rs 35,298 cr GST compensation to states; govt will not renege on promise, says Nirmala Sitharaman
The GST Council, the highest decision-making body for indirect tax, is slated to hold its meeting on 18 December.
GST cess collection in 2017-18—the first year of GST implementation—was Rs 62,596 crore, out of which Rs 41,146 crore was released to states
GST compensation: Opposition-ruled states meet Nirmala Sitharaman, seek to release outstanding dues without further delay
The all-powerful GST Council may go for a detailed review of the tax structure after the rise in the revenue collections at its meeting on 18 December
GST compensation delay: Finance ministers of five states flay Centre; urge Nirmala Sitharaman to release funds immediately
It was recalled that the assurance of GST compensation was a necessary enabler in states agreeing to subsume their fiscal sovereignty into GST.
GST compensation paid to states declines to Rs 11,900 cr during Aug-Sep against Rs 14,930 cr in June-July period
The government collected a record Rs 1,00,710 crore from Goods and Services Tax (GST) in the month of October. The returns filed and taxes collected in October reflect purchase and sale activities of September