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Centre offers states two borrowing options in lieu of compensation cess
TIWN
TIWN
PHOTO : TIWN
New Delhi, Aug 28 (TIWN) With Covid-19 disruptions making it difficult for the Centre to meet its obligation on Goods and Services Tax (GST) compensation to states this year, it has proposed two options to them to cover the compensation gap and meet their expenditure requirements.
States have been given seven days’ time to come with their views on the options listed by the Centre, during the 41st GST Council meeting on Thursday, so that a mechanism could be put in place as an exception this year. The council will meet early next year to decide on the future course of action.
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