All States choose Option-1 to meet the GST implementation shortfall
GST
Dated:- 5-12-2020
* Jharkhand has become the latest State to go for Option-1
\n * Jharkhand will get ₹ 1,689 crore through special borrowing window to meet the GST implementation shortfall
\n * Permission to raise additional ₹ 1,765 crore through borrowings also issued to Jharkhand
\nAll 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 O<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n al 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 Atma Nirbhar Abhiyaan on 17th May, 2020. This is over and above the Special Window of ₹ 1.1 lakh crore. On receipt of the choice of Option-1, the Government of India has granted additional borrowing permission of ₹ 1,765 crore to the State Government of Jharkhand (0.50 % of Jharkhand's GSDP). = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n 4746 = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" All States choose Option-1 to meet the GST implementation shortfall GSTDated:- 5-12-2020* 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 … Continue reading “All States choose 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-69022","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/69022","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=69022"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/69022\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nThe amount of additional borrowing permission granted to 28 States and the amount of funds raised through special window and released to the <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\n1580.51
\n14
\nMaharashtra
\n15394
\n4167.99
\n15
\nManipur*
\n151
\n0.00
\n16
\nMeghalaya
\n194
\n38.89
\n17
\nMizoram*
\n132
\n0.00
\n18
\nNagaland*
\n157
\n0.00
\n19
\nOdisha
\n2858
\n1329.97
\n20
\nPunjab
\n3033
\n475.80
\n21
\nRajasthan
\n5462
\n907.12
\n22
\nSikkim*
\n156
\n0.00
\n23
\nTamil Nadu
\n9627
\n2171.90
\n24
\nTelangana
\n5017
\n299.88
\n25
\nTripura
\n297
\n78.90
\n26
\nUttar Pradesh
\n9703
\n2090.21
\n27
\nUttarakhand
\n1405
\n806.10
\n28
\nWest Bengal
\n6787
\n252.22
\nTotal (A):
\n106830
\n26966.76
\n1
\nDelhi
\nNot applicable
\n2040.77
\n2
\nJammu & Kashmir
\nNot applicable
\n790.53
\n3
\nPuducherry
\nNot applicable
\n201.94
\nTotal (B):
\nNot applicable
\n3033.24
\nGrand Total (A+B)
\n106830
\n30000.00
\n * These States have 'NIL' GST compensation gap
\n # Funds will be released starting after <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n