INSUBCONTINENT EXCLUSIVE:
GST Council Meeting August 27:GST Council Meeting: Finance Minister Nirmala Sitharaman chaired the meeting of the GST Council through video
In its 41st meeting, the GST Council discussed the matter of payment of GST compensation to states
Besides Minister of State for Finance Anurag Thakur said today's GST Council meeting was attended by finance ministers of states and Union
territories, and senior officers from the central and state governments
The 41st meeting of the GST Council comes at a time when many states have complained of not receiving or not receiving sufficient funds on
Under the GST law, states have been guaranteed payment for loss of revenue in the first five years since the new indirect tax regime came
into force in July 2017.Compensation gap estimated at 2.35 lakh crorem says Revenue SecretaryGST collection was severely affected in April
and May due to Covid-19Two options for compensation were discussed with statesNo discussion was done on rate increases or decreases, says
Finance Minister'Act of God' may result in contraction of economy this fiscal: Finance Minister Nirmala Sitharaman, referring to coronavirus
pandemicStates have asked us to give them seven working days to think about the options
These options would be available only during the current year, the situation would be reviewed next year
We may have another GST meet soon: Finance Minister Nirmala SithaaramanAnnual GST compensation requirement is estimated to be around Rs 3
lakh crore, says Reveneu SecretaryCess collection expected to be around Rs 65,000 crore, says Reveneu SecretaryDuring April-July 2020, total
GST compensation to be paid is Rs 1.5 lakh crores, this is so because there was hardly any GST Collection in April and May, says Revenue
