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The West Bengal government has said the Centre owes it Rs 2,409.96 crore as GST compensation, “disagreeing” with Union Finance Minister Nirmala Sitharaman’s statement about the state not submitting audited figures. Replying to assertions that West Bengal’s dues have been…
The Central government has accepted that ₹689 crore is pending to Andhra Pradesh as GST compensation for the period between April and June, 2022 and this will be cleared in the near future. Union Finance Minister Nirmala Sitharaman, while responding…
Compared to the previous fiscal, Karnataka is expected to receive around Rs 8,000 crore more under the GST devolution this time. This will bring Karnataka on par with the funds devolved in 2019-20, before the 15th Finance Commission recommendations kicked…
Compared to the previous fiscal, Karnataka is expected to receive around Rs 8,000 crore more under the GST devolution this time. This will bring Karnataka on par with the funds devolved in 2019-20, before the 15th Finance Commission recommendations kicked…
Tamil Nadu was among the top five GST compensation receiving States during the five-year transition period from July 2017 to June 2022, according to a study by the Reserve Bank of India (RBI). Read more at : The Hindu
The government may use the goods and services tax (GST) compensation cess for a clean energy fund to help access low-cost finance as part of India’s carbon capture utilization and storage (CCUS) policy that is currently in the works, said…
The economies of half-a-dozen states are set to be “most severely affected” because of the termination of the goods and services tax compensation programme in June last year, a Reserve Bank of India report on state finances said. The share…
The AAR, Chhattisgarh in the matter of M/s Parsakente Collieries Limited [Advance Ruling No. STC/AAR/08/2021 dated December 17, 2021] has ruled that nil rate of Compensation Cess is applicable on supply of coal rejects by the coal washery, as long…
The AAR, Odisha in Das & Sons [Order No. 03/ODISHA-AAR/2022-23, dated November 22, 2022] has held that ‘Raula Gundi’ is nothing but a chewing tobacco (without lime tube) therefore, will be covered under HSN Code ‘2403 9910’ and will attract…
The compensation cess on sin goods and luxury items such as liquor, automobiles, aerated water, cigarettes and other tobacco products, is scheduled to end by March 31, 2026, but cess on coal may continue in some form beyond that deadline…