-The Hindu The Centre is best positioned to raise additional resources to bridge the GST Compensation gap Today is the crucial meeting of the Goods and Services Tax (GST) Council. It may not be an exaggeration to claim that today’s meeting could mark a milestone in the history of India’s fiscal federalism and shape the future of Centre-State relations. In 2017, the Centre made a promise to the States that a certain minimum...
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GST Council decides to extend compensation cess beyond June 2022: Sitharaman -Aparna Banerjea
-Livemint.com * Nobody is going to be denied the compensation which has arisen out of implementation of GST and COVID impact. A discussion with states is on,' says Sitharaman * Sitharaman adds that compensation cess collected this year amounting to about ₹20,000 crore will get disbursed to all states by tonight Union Finance Minister Nirmala Sitharaman during the 42nd Goods and Services Tax (GST) Council meeting today decided to extend compensation cess beyond...
More »Centre used GST Compensation cess elsewhere, violated law: CAG
-PTI/ The Hindu The CAG findings run contrary to Finance Minister Nirmala Sitharaman’s submissions in Parliament last week that states could not be compensated for revenue shortfall from the Consolidated Fund of India (CFI) relying on an opinion from the Attorney General of India which stated that there was no such provision in the law. The CAG has found that the Union government in the very first two years of the GST...
More »Centre’s stance on GST Compensation to states is untenable, legally and morally -TM Thomas Isaac
-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...
More »Why Centre’s Stance on GST Compensation is Utterly Bizarre -Prabhat Patnaik
-Newsclick.in Finance Minister Nirmala Sitharaman invoking ‘Act of God’ to deny states their promised dues, not only violates an Act of Parliament but also defies economic logic. When the Goods and Services Tax (GST) was introduced, and states virtually gave up the power to levy indirect taxes which they had enjoyed under the Constitution, the Centre had solemnly promised that it would compensate them for five years for any revenue shortfall arising...
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