Kashmir Indepth
Latest NewsNation

FM Nirmala Sitharaman chairs GST Council meeting to discuss compensation for loss of revenue to states


KINS Desk


Srinagar, Aug 27 (KINS): Finance minister Sitharaman chaired the GST Council meeting and discussed compensation for loss of revenue to the states, arising from the implementation of GST.


Official sources told news agency Kashmir Indepth News Service (KINS) that the41st meeting of the GST Council was held via video conferencing. Attorney General K K Venugopal had earlier opined that the Centre is not legally bound to make up from its coffers any shortfall in GST revenues of states.


The Centre had in March sought views from the Attorney General on the legality of market borrowing to make good the shortfall in the compensation fund.


Under the GST law, states were guaranteed to be compensated bi-monthly for any loss of revenue in the first five years of the GST implementation from 1st July, 2017.(KINS)

Related posts

Chidambaram ‘Salutes’ Shah Faesal, says World Will Notice His Cry of Anguish, Defiance

Kashmir Indepth

4 Of 5 Attackers Involved In Pulwama Attack Killed, 1 Arrested: Govt

Kashmir Indepth

Ramachandra Guha Detained During Citizenship Act Protest In Bengaluru

Kashmir Indepth

Anybody who wants dialogue within Indian Constitution is welcome: BJP

Kashmir Indepth

20 injured as bus turns turtle in Handwara

Kashmir Indepth

Close all edu institutions, healthcare system, universities so that only their armed forces can roam around: Geelani

Kashmir Indepth

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy