Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

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        LATEST NEWS UPDATES | Centre’s stance on GST compensation to states is untenable, legally and morally -TM Thomas Isaac    </title>
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The stand of Indian government is devoid of any macro-economic logic. It is not a contra-cyclical, but a pro-cyclical stance. And it is untenable, legally and morally.

The relation between the Centre and the states has reached its nadir..."/>
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The stand of Indian government is devoid of any macro-economic logic. It is not a contra-cyclical, but a pro-cyclical stance. And it is untenable, legally and morally.

The relation between the Centre and the states has reached its nadir..." />
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    <h1 class="cat-box-title">Centre’s stance on GST compensation to states is untenable, legally and morally -TM Thomas Isaac</h1>
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                            <p style="text-align:justify">-The Indian Express</p><p style="text-align:justify"><em>The stand of Indian government is devoid of any macro-economic logic. It is not a contra-cyclical, but a pro-cyclical stance. And it is untenable, legally and morally.</em></p><p style="text-align:justify">The relation between the Centre and the states has reached its nadir with the controversy over the GST compensation payment. The shortfall in GST revenues in 2020-21 from the protected level will be of the order of Rs 3 lakh crore. The collection from the compensation cess from which this shortfall is to be paid, will be only Rs 70,000 crore. So, how to fill the gap of 2.3 lakh crore?</p><p style="text-align:justify">The only recourse is to temporarily borrow this amount and recoup it by extending the period of the cess collection from the stipulated five years to a longer period. This indeed was the solution that was put forward by none other than the former Finance Minister Arun Jaitley when such a contingency came up for discussion in the GST Council.</p><p style="text-align:justify">However, the Union government today is unwilling to borrow the necessary amount and make it available to the cess fund. They are afraid that such a large borrowing will push up the interest rate. It is strange that this should be the reaction of the Centre which has proposed a Rs 21 lakh crore stimulus package, mostly relying on bank credit.</p><p style="text-align:justify">Please <a href="https://indianexpress.com/article/opinion/columns/gst-compensation-payments-shortfall-centre-cess-6585749/" title="https://indianexpress.com/article/opinion/columns/gst-compensation-payments-shortfall-centre-cess-6585749/">click here</a> to read more.</p><p style="text-align:justify">&nbsp;</p>                                                           
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    <br><a href="https://indianexpress.com/article/opinion/columns/gst-compensation-payments-shortfall-centre-cess-6585749/" class="re" target="_blank">The Indian Express, 7 September, 2020, https://indianexpress.com/article/opinion/columns/gst-compensation-payments-shortfall-centre-cess-6585749/</a><div class="clear"></div>
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The stand of Indian government is devoid of any macro-economic logic. It is not a contra-cyclical, but a pro-cyclical stance. And it is untenable, legally and morally.

The relation between the Centre and the states has reached its nadir..."/>
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The stand of Indian government is devoid of any macro-economic logic. It is not a contra-cyclical, but a pro-cyclical stance. And it is untenable, legally and morally.

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                            <p style="text-align:justify">-The Indian Express</p><p style="text-align:justify"><em>The stand of Indian government is devoid of any macro-economic logic. It is not a contra-cyclical, but a pro-cyclical stance. And it is untenable, legally and morally.</em></p><p style="text-align:justify">The relation between the Centre and the states has reached its nadir with the controversy over the GST compensation payment. The shortfall in GST revenues in 2020-21 from the protected level will be of the order of Rs 3 lakh crore. The collection from the compensation cess from which this shortfall is to be paid, will be only Rs 70,000 crore. So, how to fill the gap of 2.3 lakh crore?</p><p style="text-align:justify">The only recourse is to temporarily borrow this amount and recoup it by extending the period of the cess collection from the stipulated five years to a longer period. This indeed was the solution that was put forward by none other than the former Finance Minister Arun Jaitley when such a contingency came up for discussion in the GST Council.</p><p style="text-align:justify">However, the Union government today is unwilling to borrow the necessary amount and make it available to the cess fund. They are afraid that such a large borrowing will push up the interest rate. It is strange that this should be the reaction of the Centre which has proposed a Rs 21 lakh crore stimulus package, mostly relying on bank credit.</p><p style="text-align:justify">Please <a href="https://indianexpress.com/article/opinion/columns/gst-compensation-payments-shortfall-centre-cess-6585749/" title="https://indianexpress.com/article/opinion/columns/gst-compensation-payments-shortfall-centre-cess-6585749/">click here</a> to read more.</p><p style="text-align:justify">&nbsp;</p>                                                           
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    <br><a href="https://indianexpress.com/article/opinion/columns/gst-compensation-payments-shortfall-centre-cess-6585749/" class="re" target="_blank">The Indian Express, 7 September, 2020, https://indianexpress.com/article/opinion/columns/gst-compensation-payments-shortfall-centre-cess-6585749/</a><div class="clear"></div>
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The stand of Indian government is devoid of any macro-economic logic. It is not a contra-cyclical, but a pro-cyclical stance. And it is untenable, legally and morally.

The relation between the Centre and the states has reached its nadir..."/>
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The stand of Indian government is devoid of any macro-economic logic. It is not a contra-cyclical, but a pro-cyclical stance. And it is untenable, legally and morally.

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                            <p style="text-align:justify">-The Indian Express</p><p style="text-align:justify"><em>The stand of Indian government is devoid of any macro-economic logic. It is not a contra-cyclical, but a pro-cyclical stance. And it is untenable, legally and morally.</em></p><p style="text-align:justify">The relation between the Centre and the states has reached its nadir with the controversy over the GST compensation payment. The shortfall in GST revenues in 2020-21 from the protected level will be of the order of Rs 3 lakh crore. The collection from the compensation cess from which this shortfall is to be paid, will be only Rs 70,000 crore. So, how to fill the gap of 2.3 lakh crore?</p><p style="text-align:justify">The only recourse is to temporarily borrow this amount and recoup it by extending the period of the cess collection from the stipulated five years to a longer period. This indeed was the solution that was put forward by none other than the former Finance Minister Arun Jaitley when such a contingency came up for discussion in the GST Council.</p><p style="text-align:justify">However, the Union government today is unwilling to borrow the necessary amount and make it available to the cess fund. They are afraid that such a large borrowing will push up the interest rate. It is strange that this should be the reaction of the Centre which has proposed a Rs 21 lakh crore stimulus package, mostly relying on bank credit.</p><p style="text-align:justify">Please <a href="https://indianexpress.com/article/opinion/columns/gst-compensation-payments-shortfall-centre-cess-6585749/" title="https://indianexpress.com/article/opinion/columns/gst-compensation-payments-shortfall-centre-cess-6585749/">click here</a> to read more.</p><p style="text-align:justify">&nbsp;</p>                                                           
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    <br><a href="https://indianexpress.com/article/opinion/columns/gst-compensation-payments-shortfall-centre-cess-6585749/" class="re" target="_blank">The Indian Express, 7 September, 2020, https://indianexpress.com/article/opinion/columns/gst-compensation-payments-shortfall-centre-cess-6585749/</a><div class="clear"></div>
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Home हिन्दी

Centre’s stance on GST compensation to states is untenable, legally and morally -TM Thomas Isaac

Published on Sep 7, 2020   Modified on Sep 7, 2020

-The Indian Express The stand of Indian government is devoid of any macro-economic logic. It is not a contra-cyclical, but a pro-cyclical stance. And it is untenable, legally and morally. The relation between the Centre and the states has reached its nadir with the controversy over the GST compensation payment. The shortfall in GST revenues in 2020-21 from the protected level will be of the order of Rs 3 lakh crore. The collection from the compensation cess from which this shortfall is to be paid, will be only Rs 70,000 crore. So, how to fill the gap of 2.3 lakh crore? The only recourse is to temporarily borrow this amount and recoup it by extending the period of the cess collection from the stipulated five years to a longer period. This indeed was the solution that was put forward by none other than the former Finance Minister Arun Jaitley when such a contingency came up for discussion in the GST Council. However, the Union government today is unwilling to borrow the necessary amount and make it available to the cess fund. They are afraid that such a large borrowing will push up the interest rate. It is strange that this should be the reaction of the Centre which has proposed a Rs 21 lakh crore stimulus package, mostly relying on bank credit. Please click here to read more.

The Indian Express, 7 September, 2020, https://indianexpress.com/article/opinion/columns/gst-compensation-payments-shortfall-centre-cess-6585749/

Tagged with: GST Council GST Compensation Goods and Services Tax GST Revenue Tax Revenue Tax Collection

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