While the Centre had assured to compensate states in case GST collections did not grow 14% annually, the compensation requirement has shot up to an estimated Rs 3 lakh crore this year due to Covid-19. With a projected deficit of Rs 2.3 lakh crore, the Centre has come up with two options, involving market borrowings, to bridge the gap with repayment funded through the compensation cess.
from Times of India https://ift.tt/2GCAKPm
While the Centre had assured to compensate states in case GST collections did not grow 14% annually, the compensation requirement has shot up to an estimated Rs 3 lakh crore this year due to Covid-19. With a projected deficit of Rs 2.3 lakh crore, the Centre has come up with two options, involving market borrowings, to bridge the gap with repayment funded through the compensation cess. https://ift.tt/eA8V8J October 06, 2020 at 04:05AM https://ift.tt/2hJjhqE
Tuesday, October 6, 2020
GST compensation cess to stay beyond June 2022 to help states
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