Goods and Services Tax – GST Dated:- 3-12-2020 – News – All States except Jharkhand choose Option-1 to meet the GST implementation shortfall Chhattisgarh has become the latest State to go for Option-1 Chhattisgarh will get ₹ 3,109 crores through special borrowing window to meet the GST implementation shortfall Permission to raise additional ₹ 1,792 crore through borrowings also issued to Chhattisgarh Government of Chhattisgarh has communicated its acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation. The number of States who have favoured Option-1 has gone up to 27. All States except Jharkhand and all the 3 Union Territories with Legislative Assembly have 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 special borrowing window put in place by the Government of India. The window has been operationalised
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
377; 1.1 lakh crore. On receipt of the choice of Option-1, the Government of India has granted additional borrowing permission of ₹ 1,792 crore to the State Government of Chhattisgarh (0.50 % of Chhattisgarh s GSDP). The amount of additional borrowing permission granted to 27 States and the amount of funds raised through special window and released to the States and 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/UT still 02.12.2020 (Rs. in Crore) S. No. Name of State / UT Additional borrowing of 0.50 percent allowed to States Amount of fund raised through special window passed on to the States/ UTs 1 Andhra Pradesh 5051 804.15 2 Arunachal P
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
radesh 4746 1580.51 13 Maharashtra 15394 4167.99 14 Manipur* 151 0.00 15 Meghalaya 194 38.89 16 Mizoram* 132 0.00 17 Nagaland* 157 0.00 18 Odisha 2858 1329.97 19 Punjab 3033 475.80 20 Rajasthan 5462 907.12 21 Sikkim* 156 0.00 22 Tamil Nadu
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =