Goods and Services Tax – GST Dated:- 25-11-2020 – News – Two more States – Kerala and West Bengal choose Option-1 to meet the GST implementation shortfall 25 States and all Union Territories with Legislative Assembly have favoured Option-I Kerala and West Bengal will get ₹ 10,197 crore through special borrowing window to meet the GST implementation shortfall. Permission to raise additional ₹ 11,309 crore through borrowings also issued to Kerala and West Bengal. Governments of Kerala and West Bengal have communicated their acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation. The number of States who have chosen this option has gone up to 25. All the 3 Union Territories with Legislative Assembly (i.e. Delhi, Jammu Kashmir and Puducherry) have also decided in favour of Option-1. The States Union Territories who choose Option-1 are getting the amount of shortfall arising out of GST implementation through a
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May, 2020. This is over and above the Special Window of ₹ 1.1 lakh crore. On receipt of the choice of Option-1 from the Government of Kerala and West Bengal, the Government of India has granted additional borrowing permission of ₹ 4,522 crore to the State Government of Kerala (0.5% of Kerala s GSDP) and ₹ 6,787 crore to the State Government of West Bengal (0.5% of West Bengal s GSDP) . The amount of additional borrowing permission granted to 25 States and the amount of funds raised through special window and released to the 23 States and 3 Union Territories so far is annexed. State wise additional borrowing of 0.50 percent of GSDP allowed and amount of funds raised through special window passed on to the States/UTs till 23.11.2020 (Rs. in Crore) S. No. Name of State / UT Additional borrowing of 0.50 percent allowed to States Amount of fund raised th
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Kerala # 4,522 0.00 11 Madhya Pradesh 4746 1321.98 12 Maharashtra 15394 3486.24 13 Manipur* 151 0.00 14 Meghalaya 194 32.51 15 Mizoram* 132 0.00 16 Nagaland* 157 0.00 17 Odisha 2858 1112.42 18 Rajasthan 5462 645.06 19 Sikkim* 156 0.00 20
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