• Contact
DD Freedish News
Advertisement
  • Contact
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
    • Home – Layout 4
    • Home – Layout 5
    • Home – Layout 6
  • News
    • All
    • Business
    • Politics
    • Science
    • World
    Indonesia Sriwijaya Black Boxes Found Along With Other Human Remains

    Indonesia Sriwijaya Black Boxes Found Along With Other Human Remains

    Money Transfer

    What Problems Could We Face Usually in Online Money Transfer & How to Counter?

    New Coronavirus Variant

    New Coronavirus Variant Found in England Is Spreading Very Fast

    Hillary Clinton in white pantsuit for Trump inauguration

    Amazon has 143 billion reasons to keep adding more perks to Prime

    Shooting More than 40 Years of New York’s Halloween Parade

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Apps
    • Gadget
    • Mobile
    • Startup
    progressive web application

    10 Best Progressive Web Apps

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    macOS Sierra review: Mac users get a modest update this year

    Hands on: Samsung Galaxy A5 2017 review

    The Last Guardian Playstation 4 Game review

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    macOS Sierra review: Mac users get a modest update this year

    Hands on: Samsung Galaxy A5 2017 review

    Heroes of the Storm Global Championship 2017 starts tomorrow, here’s what you need to know

    Harnessing the power of VR with Power Rangers and Snapdragon 835

    So you want to be a startup investor? Here are things you should know

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel
    Foods Rich in Iron

    Foods Rich in Iron

    kegel exercises for men

    Kegel Exercises For Men

    Amazing Benefits of Replacing Regular Shampoo with Organic Shampoo

    Amazing Benefits of Replacing Regular Shampoo with Organic Shampoo

    High Blood Pressure Causes

    High Blood Pressure Causes

    Symptoms of MS in Women

    Symptoms of MS in Women

    How To Get Rid Of Dandruff

    How To Get Rid Of Dandruff

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • Esports
    • Fashion Week
  • Review

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    macOS Sierra review: Mac users get a modest update this year

    Hands on: Samsung Galaxy A5 2017 review

    The Last Guardian Playstation 4 Game review

    Intel Core i7-7700K ‘Kaby Lake’ review

No Result
View All Result
  • Contact
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
    • Home – Layout 4
    • Home – Layout 5
    • Home – Layout 6
  • News
    • All
    • Business
    • Politics
    • Science
    • World
    Indonesia Sriwijaya Black Boxes Found Along With Other Human Remains

    Indonesia Sriwijaya Black Boxes Found Along With Other Human Remains

    Money Transfer

    What Problems Could We Face Usually in Online Money Transfer & How to Counter?

    New Coronavirus Variant

    New Coronavirus Variant Found in England Is Spreading Very Fast

    Hillary Clinton in white pantsuit for Trump inauguration

    Amazon has 143 billion reasons to keep adding more perks to Prime

    Shooting More than 40 Years of New York’s Halloween Parade

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Apps
    • Gadget
    • Mobile
    • Startup
    progressive web application

    10 Best Progressive Web Apps

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    macOS Sierra review: Mac users get a modest update this year

    Hands on: Samsung Galaxy A5 2017 review

    The Last Guardian Playstation 4 Game review

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    macOS Sierra review: Mac users get a modest update this year

    Hands on: Samsung Galaxy A5 2017 review

    Heroes of the Storm Global Championship 2017 starts tomorrow, here’s what you need to know

    Harnessing the power of VR with Power Rangers and Snapdragon 835

    So you want to be a startup investor? Here are things you should know

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel
    Foods Rich in Iron

    Foods Rich in Iron

    kegel exercises for men

    Kegel Exercises For Men

    Amazing Benefits of Replacing Regular Shampoo with Organic Shampoo

    Amazing Benefits of Replacing Regular Shampoo with Organic Shampoo

    High Blood Pressure Causes

    High Blood Pressure Causes

    Symptoms of MS in Women

    Symptoms of MS in Women

    How To Get Rid Of Dandruff

    How To Get Rid Of Dandruff

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • Esports
    • Fashion Week
  • Review

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    macOS Sierra review: Mac users get a modest update this year

    Hands on: Samsung Galaxy A5 2017 review

    The Last Guardian Playstation 4 Game review

    Intel Core i7-7700K ‘Kaby Lake’ review

No Result
View All Result
DD Freedish News
No Result
View All Result
Home Uncategorized

Stormy GST Council meet likely today; non-BJP states to oppose Centre’s borrowing options

admin by admin
November 1, 2020
in Uncategorized
0
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Stormy GST Council meet likely today; non-BJP states to oppose Centre’s borrowing options

Chief Ministers of six non-BJP ruled states — West Bengal, Kerala, Delhi, Telangana, Chhattisgarh and Tamil Nadu – have written to the Centre opposing the options which require states to borrow to meet shortfall

New Delhi: The GST Council meeting on Monday may turn into a stormy affair, with non-BJP ruled states still being in disagreement with the Centre on the compensation issue.

While as many as 21 states, mostly ruled by BJP or parties which have supported it on issues, had till mid-September opted to borrow Rs 97,000 crore to meet the GST revenue shortfall in the current fiscal, opposition-led states like West Bengal, Punjab and Kerala have not yet accepted the borrowing option given by the Centre.

Sources said in the 42nd meeting of the Council on 5 October, opposition-ruled states would object to the Centre’s borrowing options and demand alternative mechanism for funding GST compensation deficit.

They feel that the constitutional liability of compensating states lies with the union government.

In the current fiscal, the states are staring at a staggering Rs 2.35 lakh crore Goods and Services Tax (GST) revenue shortfall.

Of this, as per Centre’s calculation, about Rs 97,000 crore is on account of GST implementation and rest Rs 1.38 lakh crore is the impact of COVID-19 on states’ revenues.

The Centre in August gave two options to the states to borrow either Rs 97,000 crore from a special window facilitated by the RBI or Rs 2.35 lakh crore from the market and has also proposed extending the compensation cess levied on luxury, demerit and sin goods beyond 2022 to repay the borrowing.

READ  Bigly Yuge: In Alaska, armed bears take charge to protect counting process from Russians, Democrats

The non-BJP ruled states are at loggerheads with the Centre over the issue of funding the shortfall.

Chief Ministers of six non-BJP ruled states West Bengal, Kerala, Delhi, Telangana, Chhattisgarh and Tamil Nadu — have written to the Centre opposing the options which require states to borrow to meet the shortfall.

While these states want the Centre to borrow to meet the shortfall, the Centre has argued that the revenue accruing from GST compensation cess goes to the states and the Centre cannot borrow on the security of the tax it does not own.

Under the GST structure, taxes are levied under 5, 12, 18 and 28 per cent slabs. On top of the highest tax slab, a cess is levied on luxury, sin and demerit goods and the proceeds from the same are used to compensate states for any revenue loss.

Attorney General of India KK Venugopal had given his legal view on the compensation cess issue where he has opined that there is no obligation on the Centre under the GST laws to compensate for the loss of revenue.

He had opined that the GST Council has to find ways to meet any revenue shortfall arising out of GST implementation.

The payment of GST compensation to states became an issue after revenues from the imposition of cess started dwindling since August 2019.

The Centre had to dive into the excess cess amount collected during 2017-18 and 2018-19.

The Centre had released over Rs 1.65 lakh crore in 2019-20 as GST compensation. However, the amount of cess collected during 2019-20 was Rs 95,444 crore.

READ  Rhea Chakraborty’s Drugs Case Has ‘Lost Its Steam’, Says Her Lawyer After SC’s Judgment Over ‘Admissible Statements’

The compensation payout amount was Rs 69,275 crore in 2018-19 and Rs 41,146 crore in 2017-18.

During April-July of the current fiscal, the total compensation due to states stand at over Rs 1.51 lakh crore.

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

#Stormy #GST #Council #meet #today #nonBJP #states #oppose #Centres #borrowing #options

Tags: borrowingCentresCouncilGSTMeetnonBJPopposeoptionsStatesStormytoday
Previous Post

Bigly Yuge: Donald Trump announces national mask mandate after Halloween brainwave

Next Post

Former Indian cricketer Irfan Pathan joins Kandy franchise in Lanka Premier League

admin

admin

Next Post

Former Indian cricketer Irfan Pathan joins Kandy franchise in Lanka Premier League

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 79 Followers
  • 93.2k Subscribers
  • 22.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest

Filmyzilla 2020: FilmyZilla Bollywood Hollywood Hindi Dubbed Movies Download Movies from Filmyzilla Movie …

April 20, 2020

Sony Wah and Star Utsav Movies will Back on DD Freedish?

June 13, 2020

14 New Channels coming soon on DD Freedish DTH Platform

June 21, 2020

Tamilrockers 2020: Download Latest Bollywood Hollywood Tamil Movies

January 7, 2021

Thees channels can be added in 28th Eauction DD Freedish.

40

14 new channels going to add soon on next e-auction

22

Good News 250 Tv channels comming soon on DD Freedish

14

Pogo tv is soon going to be Free To Air Channel & it will get add on DD Freedish soon

13
Rise in Online Tutoring

The Rise in Online Tutoring

January 15, 2021
How to Grow Your Small Business in 3 Steps

How to Grow Your Small Business in 3 Steps

January 14, 2021
4 Ways to Cut Business Expenses in the New Year

4 Ways to Cut Business Expenses in the New Year

January 14, 2021
January is Financial Wellness Month

January is Financial Wellness Month

January 14, 2021

Recent News

Rise in Online Tutoring

The Rise in Online Tutoring

January 15, 2021
How to Grow Your Small Business in 3 Steps

How to Grow Your Small Business in 3 Steps

January 14, 2021
4 Ways to Cut Business Expenses in the New Year

4 Ways to Cut Business Expenses in the New Year

January 14, 2021
January is Financial Wellness Month

January is Financial Wellness Month

January 14, 2021
DD Freedish News

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow Us

Recent News

Rise in Online Tutoring

The Rise in Online Tutoring

January 15, 2021
How to Grow Your Small Business in 3 Steps

How to Grow Your Small Business in 3 Steps

January 14, 2021
  • Contact

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

Read previous post:
Bigly Yuge: Donald Trump announces national mask mandate after Halloween brainwave

Bigly Yuge: Donald Trump announces national mask mandate after Halloween brainwave 'The idea came to the President as he watched...

Close