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Opinion | Why States, Not Centre, Should Get All The Credit For GST 'Savings'
Amidst all the hoopla, it is the State governments that truly deserve recognition for coming together for the GST revision. Because the States are the ones bearing the brunt of massive revenue losses.
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'States Likely To Lose Rs 1.5 Lakh Crore Due To GST 2.0': Karnataka Minister To NDTV
Karnataka Revenue Minister Krishna Byre Gowda said that while he supports the new GST structure that came into effect on Monday, it is likely to cause a revenue loss of at least 1 to 1.5 lakh crores to states.
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"Not Sitting With Huge Suitcase...": N Sitharaman On GST Compensation Demands
Responding to complaints from states that they will not be compensated for losses in revenue, if any, from the GST reforms, Nirmala Sitharaman has said the decision was taken by consensus in the GST council.
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Opposition States Seek Compensation For Revenue Loss Due To GST Reform Proposal
Opposition-ruled states on Friday said the Centre's proposal for GST rate reforms could result in a revenue loss of about Rs 1.5 crore to Rs 2 lakh crore and demanded compensation for the losses incurred by them.
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Centre, States Equal Stakeholder In GST, Revenues Shared Equally: Report
Amid news regarding the impact of the 'Next Gen GST', government sources clarified that the Centre is an equal partner in revenue sharing with the states and that its proposal anticipates a revenue boost over time, driven by increased consumption.
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Himachal Invokes Kyoto Protocol To Demand GST Compensation From Centre
The Himachal Pradesh government on Saturday urged the Centre to make some arrangement for hilly states in lieu of the revenue loss due to GST implementation and sought compensation on the pattern of the Kyoto protocol.
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BJP Vs Congress In Delhi, Karnataka As Centre-States Fund Row Heats Up
The BJP and the Congress went head-to-head Wednesday morning over allegations the centre is withholding funds - specifically devolution of tax revenue - to the Karnataka government.
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Centre Releases Rs 7,183 Crore As Revenue Deficit Grant To 14 States
The central government on Tuesday released Rs 7,183.42 crore as revenue deficit grant to 14 states including Andhra Pradesh, Kerala, Assam, Rajasthan and West Bengal.
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MediaTek Plans to Open New Design Centre in the US With $1.4 Million Aid From the State
MediaTek, the world's fourth largest chip designer by revenue, plans to create a new design centre in US' Indiana in partnership with Purdue University. While there is no clarity on how much the company would invest in its first Midwestern design hub, MediaTek said it will receive $1.4 million from the state for the centre.
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Indian Data Centres Expansion Expected to Add Up to 1.2 Lakh Crore Investment Over Next Five Years: Report
Indian data centres are expected to get investments up to 1.2 lakh crore by both foreign and local firms over the period of next five years, stated ICRA. The Indian data centres market is witnessing a healthy growth. With increase in revenues and better absorption of fixed costs, operating margins for the data centre companies are likely to improve...
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Bengal Facing Rs 1,141 Crore Loss Due To Fuel Price Cut: Mamata Banerjee
Claiming that West Bengal is staring at a total revenue loss of Rs 1,141 crore due to reduction of duties on petrol and diesel, Mamata Banerjee on Monday attacked the Centre for allegedly favouring BJP-ruled states in giving them their dues.
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"I Stand Corrected": Congress's P Chidambaram On Fuel Price Cut
Fuel Prices Cut: Senior Congress leader P Chidambaram today said whether the states can afford to give up revenue from VAT on petrol and diesel unless the Centre devolves more funds or gives them more grants.
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"Can WhatsApp Details": Jharkhand Chief Minister vs Centre On Coal Dues
Jharkhand Chief Minister Hemant Soren on Saturday said he has written to the government of India for repayment of over Rs 1,30,000 crore of state government's dues pertaining to coal, revenue resources of mining areas etc.
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Karnataka Seeks Centre's Go-Ahead To Administer Booster Dose: Minister
In view of rising COVID-19 cases, the Karnataka government requested the Centre to allow the state to administer the booster dose of vaccine to prevent the third wave, informed state Revenue Minister R Ashok on Saturday.
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Karnataka Demands Extension Of GST Compensation To States Beyond 2022
Amid fall in state revenue and GST collection in view of COVID-19 crisis, Karnataka Chief Minister Basavaraj S Bommai on Thursday demanded the Centre to extend the GST compensation period to states beyond 2022, for three more years.
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Opinion | Why States, Not Centre, Should Get All The Credit For GST 'Savings'
Amidst all the hoopla, it is the State governments that truly deserve recognition for coming together for the GST revision. Because the States are the ones bearing the brunt of massive revenue losses.
-
'States Likely To Lose Rs 1.5 Lakh Crore Due To GST 2.0': Karnataka Minister To NDTV
Karnataka Revenue Minister Krishna Byre Gowda said that while he supports the new GST structure that came into effect on Monday, it is likely to cause a revenue loss of at least 1 to 1.5 lakh crores to states.
-
"Not Sitting With Huge Suitcase...": N Sitharaman On GST Compensation Demands
Responding to complaints from states that they will not be compensated for losses in revenue, if any, from the GST reforms, Nirmala Sitharaman has said the decision was taken by consensus in the GST council.
-
Opposition States Seek Compensation For Revenue Loss Due To GST Reform Proposal
Opposition-ruled states on Friday said the Centre's proposal for GST rate reforms could result in a revenue loss of about Rs 1.5 crore to Rs 2 lakh crore and demanded compensation for the losses incurred by them.
-
Centre, States Equal Stakeholder In GST, Revenues Shared Equally: Report
Amid news regarding the impact of the 'Next Gen GST', government sources clarified that the Centre is an equal partner in revenue sharing with the states and that its proposal anticipates a revenue boost over time, driven by increased consumption.
-
Himachal Invokes Kyoto Protocol To Demand GST Compensation From Centre
The Himachal Pradesh government on Saturday urged the Centre to make some arrangement for hilly states in lieu of the revenue loss due to GST implementation and sought compensation on the pattern of the Kyoto protocol.
-
BJP Vs Congress In Delhi, Karnataka As Centre-States Fund Row Heats Up
The BJP and the Congress went head-to-head Wednesday morning over allegations the centre is withholding funds - specifically devolution of tax revenue - to the Karnataka government.
-
Centre Releases Rs 7,183 Crore As Revenue Deficit Grant To 14 States
The central government on Tuesday released Rs 7,183.42 crore as revenue deficit grant to 14 states including Andhra Pradesh, Kerala, Assam, Rajasthan and West Bengal.
-
MediaTek Plans to Open New Design Centre in the US With $1.4 Million Aid From the State
MediaTek, the world's fourth largest chip designer by revenue, plans to create a new design centre in US' Indiana in partnership with Purdue University. While there is no clarity on how much the company would invest in its first Midwestern design hub, MediaTek said it will receive $1.4 million from the state for the centre.
-
Indian Data Centres Expansion Expected to Add Up to 1.2 Lakh Crore Investment Over Next Five Years: Report
Indian data centres are expected to get investments up to 1.2 lakh crore by both foreign and local firms over the period of next five years, stated ICRA. The Indian data centres market is witnessing a healthy growth. With increase in revenues and better absorption of fixed costs, operating margins for the data centre companies are likely to improve...
-
Bengal Facing Rs 1,141 Crore Loss Due To Fuel Price Cut: Mamata Banerjee
Claiming that West Bengal is staring at a total revenue loss of Rs 1,141 crore due to reduction of duties on petrol and diesel, Mamata Banerjee on Monday attacked the Centre for allegedly favouring BJP-ruled states in giving them their dues.
-
"I Stand Corrected": Congress's P Chidambaram On Fuel Price Cut
Fuel Prices Cut: Senior Congress leader P Chidambaram today said whether the states can afford to give up revenue from VAT on petrol and diesel unless the Centre devolves more funds or gives them more grants.
-
"Can WhatsApp Details": Jharkhand Chief Minister vs Centre On Coal Dues
Jharkhand Chief Minister Hemant Soren on Saturday said he has written to the government of India for repayment of over Rs 1,30,000 crore of state government's dues pertaining to coal, revenue resources of mining areas etc.
-
Karnataka Seeks Centre's Go-Ahead To Administer Booster Dose: Minister
In view of rising COVID-19 cases, the Karnataka government requested the Centre to allow the state to administer the booster dose of vaccine to prevent the third wave, informed state Revenue Minister R Ashok on Saturday.
-
Karnataka Demands Extension Of GST Compensation To States Beyond 2022
Amid fall in state revenue and GST collection in view of COVID-19 crisis, Karnataka Chief Minister Basavaraj S Bommai on Thursday demanded the Centre to extend the GST compensation period to states beyond 2022, for three more years.
