Goods and Services Tax – GST Dated:- 5-12-2020 – News – Jharkhand has become the latest State to go for Option-1 Jharkhand will get ₹ 1,689 crore through special borrowing window to meet the GST implementation shortfall Permission to raise additional ₹ 1,765 crore through borrowings also issued to Jharkhand All the 28 States and 3 Union Territories with legislature have decided to go for Option-1 to meet the revenue shortfall arising out of the GST implementation. Jharkhand, the only remaining State, has now communicated its acceptance of Option-1. All the 3 Union Territories with Legislative Assembly who are members of the GST council have already decided in favour of Option-1. The Government of India has set up a special borrowing window for the States Union Territories who choose Option-1 to borrow the amount of shortfall arising out of GST implementation. The window has been operationalised since 23 rd October, 2020 an
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onal borrowing permission of ₹ 1,765 crore to the State Government of Jharkhand (0.50 % of Jharkhand s GSDP). The amount of additional borrowing permission granted to 28 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/UTs till 04.12.2020 (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 Pradesh* 143 0.00 3
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Madhya Pradesh 4746 1580.51 14 Maharashtra 15394 4167.99 15 Manipur* 151 0.00 16 Meghalaya 194 38.89 17 Mizoram* 132 0.00 18 Nagaland* 157 0.00 19 Odisha 2858 1329.97 20 Punjab 3033 475.80 21 Rajasthan 5462 907.12 22 Sikkim* 156 0.00 23 T
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