Punjab chooses Option-1 to meet the GST implementation shortfall
GST
Dated:- 30-11-2020
Punjab chooses Option-1 to meet the GST implementation shortfall
\n26 States and all Union Territories with Legislative Assembly have favoured Option-1
\nPunjab will get ₹ 8,359 Crores through special borrowing window to meet the GST implementation shortfall
\nPermission to raise additional ₹ 3,033 Crores through borrowings also issued to Punjab
\nGovernments of Punjab has communicated 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 26. All the 3 Union Territories with Legislative Assembly (i.e. Delhi, Jammu & Kashmir and Puducher<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n tting the facility of a special window for borrowings to meet the shortfall arising out of GST implementation, the States are also entitled to get unconditional permission to borrow the final instalment of 0.50% of Gross State Domestic Product (GSDP) out of the 2% additional borrowings permitted by the Government of India, under Atmnirbhar Abhiyaan on 17th May, 2020. This is over and above the Special Window of ₹ 1.1 lakh crores. On receipt of the choice of Option-1 from the Government of Punjab, the Government of India has granted additional borrowing permission of ₹ 3,033 crores to the State Government of Punjab(0.5% of Punjab's GSDP). = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n 1321.98 = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Punjab chooses Option-1 to meet the GST implementation shortfall GSTDated:- 30-11-2020Punjab chooses Option-1 to meet the GST implementation shortfall 26 States and all Union Territories with Legislative Assembly have favoured Option-1 Punjab will get ₹ 8,359 Crores through special borrowing window to meet the GST implementation shortfall Permission to raise additional ₹ 3,033 Crores through … Continue reading “Punjab chooses Option-1 to meet the GST implementation shortfall”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-69018","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/69018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=69018"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/69018\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nThe amount of additional borrowing permission granted to 26 States and the amount of funds <\/p>\n
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\n12
\nMaharashtra
\n15394
\n3486.24
\n13
\nManipur*
\n151
\n0.00
\n14
\nMeghalaya
\n194
\n32.51
\n15
\nMizoram*
\n132
\n0.00
\n16
\nNagaland*
\n157
\n0.00
\n17
\nOdisha
\n2858
\n1112.42
\n18
\nPunjab #
\n3033
\n0.00
\n19
\nRajasthan
\n5462
\n645.06
\n20
\nSikkim*
\n156
\n0.00
\n21
\nTamil Nadu
\n9627
\n1816.66
\n22
\nTelangana
\n5017
\n164.41
\n23
\nTripura
\n297
\n66.04
\n24
\nUttar Pradesh
\n9703
\n1748.29
\n25
\nUttarakhand
\n1405
\n674.27
\n26
\nWest Bengal #
\n6787
\n0.00
\nTotal (A):
\n103273
\n21472.16
\n1
\nDelhi
\nNot applicable
\n1706.93
\n2
\nJammu & Kashmir
\nNot applicable
\n661.21
\n3
\nPuducherry
\nNot applicable
\n159.70
\nTotal (B):
\nNot applicable
\n2527.84
\nGrand Total (A+B)
\n103273
\n24000.00
\n* These States have 'NIL' GST compensation gap
\n # Funds will be released starting after next ro<\/p>\n
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