Opposition-ruled states on Wednesday expressed concern over delay in release of GST compensation which has put them in an acute financial position.
Five state finance ministers on Friday released a joint statement expressing concern over the delay in the release of GST compensation by the Centre, which has put finances of states under stress and some have been prompted to resort to short term borrowing from the RBI or overdraft. “GST compensation for the months of August and September, required to be paid by the central government sometime in October, continues to be outstanding till date,”
Read more: Business Standard and Business Standard and A2ZTaxCorp
Latest Posts in "India"
- Tripura HC: ITC Cannot Be Denied to Bona Fide Purchaser for Supplier’s Tax Default
- Ready-to-Drink Non-Alcoholic Beverages Like Mojito to Attract 40% GST, Rules WB AAR
- Bombay HC: Assignment of Long-Term Industrial Leasehold Rights Not Taxable as ‘Supply’ Under GST
- ITC Not Allowed on Mall Construction for Leasing, Rules Tamil Nadu AAR under GST Law
- Section 74 Cannot Be Invoked for GST Return Mismatches Without Evidence of Fraud or Suppression
