Centre To Borrow On Behalf Of States To Meet GST Shortfall

The Centre borrowing on behalf of states is likely to ensure that a single rate of borrowing is charged and this would also be easy to administer.

Private hospitals in Kolkata have welcomed the state government's decision to reduce the cost of COVID-19 test from Rs 2,250 to Rs 1,500 as well as fixing rates for ambulance services.

There was no consenus to break deadlock between centre and states over mode of payment of GST compensation, Union Finance Minister Nirmala Sitharaman said late Monday night after yet another marathon meeting of the GST Council

A man has been arrested on charges of creating and operating fictitious firms on forged documents and passing fake input tax credit (ITC) of Rs 190 crore, the Directorate General of GST Intelligence (DGGI) said on Friday.

The finance minister said she wondered why the Opposition leaders did not speak in Parliament when the bills were being discussed.

The new D2H Box Service Plan offers ‘free service of your set-top box’, and this service is priced at Rs. 117 (including GST). This extends your existing box warranty or offers you a fresh warranty for one year.

Congress Rajya Sabha MP P Chidambaram has congratulated the 10 states that "stood firm and rejected" the central government's suggestion that they borrow money to offset GST compensation due to them

The surcharge on luxury goods, which varies from 12% to 200%, is part of the national goods and services tax (GST) introduced in 2017, and was due to expire in 2022.

The surcharge on luxury goods, which varies from 12 per cent to 200 per cent, is part of the national goods and services tax (GST) introduced in 2017, and was due to expire in 2022.

GST compensation due to state governments for this year - around Rs 20,000 crore - will be released, Finance Minister Nirmala Sitharaman had said on Monday night after a marathon meeting of the 42nd GST Council.

The GST collection rose 4 per cent in September (year-on-year) to Rs 95,480 crore, rail freight revenue earnings rose 13.5 per cent and power consumption increased by 4.2 per cent.

In September 2020, the tax collections from import of goods and domestic transaction were 102 per cent and 105 per cent, respectively, of the revenues from these sources during the same month last year.

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

Amitabh Kant, CEO- Niti Aayog said that the government has been trying bringing down the tax rates on electric vehicles (EVs) to 5 per cent and compared to 28 per cent at other vehicles.