The two borrowing options have been given to States in 41st GST Council Meeting held on 27 August, 2020 in order to meet the GST Compensation shortfall for financial year 2020-21. The document annexed with this press note discusses in detail these two options. The States are required to inform about the option they choose within 7 working days.
Source: taxmann.com
Latest Posts in "India"
- GST Council to Discuss Simplifying Tax Regime, Reducing Levies on Cement, Services, and Insurance
- GST Council to Discuss Moving Food, Textile Products to 5% Tax Bracket in September Meeting
- Auto Industry Urges Quick GST Rate Implementation to Boost Festive Season Sales
- GST Council to Discuss Sin Goods Tax, Rate Structure Overhaul, and Future Cess Plans
- GST Council to Consider Raising Maximum Slab Rate Beyond 40% for Luxury and Sin Goods
