Left Targets Centre Over ''Act of God'' Remark On GST Revenue Shortfall

The CPI(M) on Friday hit out at the government over the shortfall in GST revenues and claimed it was "blaming the heavens" after its "cronyism, incompetence and callousness" destroyed the economy.

The Kerala government on Thursday termed as "unacceptable" the two options placed before the GST Council by the Centre for borrowing by states to meet the shortfall in tax revenues.

The Congress Thursday said it was "dissatisfied" with the outcome of the GST Council meeting and accused the Centre of adopting a majoritarian approach and thrusting "solutions" on states.

Centre asked the states to borrow money from the market in order to meet the Rs 2.35 lakh crore compensation shortfall

The coronavirus pandemic has hurt goods and services (GST) collection and the shortfall is Rs 2.35 lakh crore for fiscal 2021, the government said on Thursday. Finance Minister Nirmala Sitharaman, after a meeting of the decision-making body for fixing GST policies, said the coronavirus pandemic was "an act of God" and an unforeseen factor that affected GST collections...

The 41st GST or Goods and Services Tax Council meeting was held today, chaired by Finance Minister, Nirmala Sitharaman. There was no discussion on revising GST rates for two-wheelers and therefore, the current rate of 28 per cent is still applicable.

GST Council Meet: The meeting will discuss compensation to states and attempt to evolve a consensus on borrowing from the market to reimburse states for their revenue shortfall.

GST Council Meeting Updates: Compensation gap estimated at 2.35 lakh crorem says Revenue Secretary

GST Council Meeting Updates: The 41st meeting of the GST Council comes at a time when many states have complained of not receiving adequate funds as GST compensation.

Bihar Deputy Chief Minister Sushil Kumar Modi on Wednesday said the central government is "morally bound" to compensate states for the revenue shortfall on account of low GST collections in the wake of the COVID-19 pandemic.

Responding to a question during a CII virtual forum, the Finance Minister said that two-wheelers are "neither a luxury nor a sin good," and would merit a rate revision.

Congress president Sonia Gandhi has criticised the centre over not clearing goods and services tax that it owes to state governments, putting them in severe financial strain amid the coronavirus pandemic.

The government has to compensate states fully for the loss of revenue in Goods and Services Tax (GST) during the coronavirus crisis, its top lawyer has advised ahead of a big meet of the GST council to be attended by state Finance Ministers and Chief Ministers.

The Congress on Tuesday accused the Centre of committing a "sovereign default" by not paying GST compensation to states as mandated under the law and demanded that they be compensated soon.