-The Hindu Dues equal four months’ compensation, says Finance Ministry The Centre is yet to remit ₹78,704 crore in outstanding Goods and Services Tax (GST) compensation dues to States, equivalent to four months of compensation under the indirect tax regime introduced in July 2017, the Finance Ministry said on Wednesday, citing ‘inadequate balance in the fund’.   “The pending amount will also be released as and when amount from cess accrues in the...

-The Telegraph Kerala finance minister pitched for extending it beyond June next year as the state was already grappling with a significant revenue shortfall The clamour for compensation to states beyond June 2022 grew louder on Saturday with Kerala finance minister K.N. Balagopal saying the financial situation of the state would be deeply impacted if the assistance is not extended. Balagopal pitched for extending the GST compensation beyond June next year as his...

-The Telegraph Three states — Punjab, Jharkhand and Chhattisgarh — have not accepted the proposals yet Bengal and Kerala have dropped their opposition to the Centre’s borrowing option to bridge the gap in the Goods and Services Tax revenue receipts. The two states have opted for the limited borrowing option under which the Centre will borrow funds and pass them on to the states but the debt will be recognised in the balance...

-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...

-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...