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States request Jaitley for early release of CST compensation

States request Jaitley for early release of CST compensation

Majority states in their pre-budget meeting with Finance Minister Arun Jaitley Saturday demanded the Centre should release the long pending compensation for phasing out Central Sales Tax (CST) and provide for such funds in the upcoming Budget.


Logistics players can gain 30% on cost from GST: Crisil

The elimination of check posts will also help deliver savings as goods move faster, the agency said, pointing out that the consumer durables sector will benefit the most.

Govt approves Rs 33,000 cr CST compensation to states/UTs

Government Tuesday approved the release of Rs 33,000 crore in tranches to states and Union Territories to compensate them for revenue loss on account of phasing out of Central Sales Tax for three financial years up to 2012-13.

Rs 32,800 cr paid to states to compensate for CST loss: Sinha

The Centre Friday said it has paid Rs 32,800 crore to states as compensation for phasing out of Central Sales Tax in the run-up to roll-out of Goods and Services Tax.

Govt seeks Parl nod for Rs 11000 cr CST compensation to states

Govt seeks Parl nod for Rs 11000 cr CST compensation to states

Government Monday sought approval of Parliament to release about Rs 11,000 crore to states and union territories to compensate them for revenue loss on account of phasing out of Central Sales Tax (CST).

Centre to release Rs 11,000 cr CST compensation to states: FM

A day ahead of his meeting with state finance ministers, Union Finance Minister Arun Jaitley Wednesday said the government will soon release Rs 11,000 crore towards Central Sales Tax (CST) compensation, as part of consensus building for GST rollout.

Bill to implement GST in winter session: Arun Jaitley

The constitution amendment bill to implement the Goods and Services Tax (GST) would be introduced in the forthcoming winter session of parliament, Finance Minister Arun Jaitley said Tuesday.

Govt to sort out compensation issues for early GST roll-out: FM

Finance Minister Arun Jaitley Thursday said the Centre would sort out compensation issues with states to ensure early roll-out of Goods and Service Tax, a new indirect tax regime that will subsume various levies.

Committee on CST recommends settling previous claims

A committee has recommended that individual states' central sales tax (CST) compensation claims of earlier years be settled on case to case basis at the earliest to pave way for smooth rollout of GST.

CST issue resolved; paves way for implementation of GST

Central Sales Tax, Goods and Services Tax,Sushil Kumar Modi

Committees to look into CST compensation, GST design issues: FM

Finance Minister P Chidambaram Thursday said two committees will be constituted to sort out contentious issues that hamper implementation of the Goods and Services Tax (GST).

States want Centre to resolve CST issue before GST rollout

States want the central government to resolve the Central Sales Tax (CST) compensation issue before moving ahead with the rollout of the Goods and Service Tax (GST) regime.

CST compensation issue under examination, says Centre

The Centre on Wednesday said the demand of states for continuation of compensation for their revenue loss on account of reduction in central sales tax (CST) is under examination.

States ask PM to address CST compensation issue by Aug 7

States on Friday asked Prime Minister Manmohan Singh to resolve the CST compensation issue by August 7 so that there is no "trust deficit" before introducing GST, dubbed as a big-ticket tax reform.

Centre ready for fresh look at CST compensation issue: Pranab

Seeking to build bridges with states, Finance Minister Pranab Mukherjee Wednesday said he would look into their demand for Central Sales Tax (CST) compensation and deal with the problem of debt-ridden states of Kerala, Punjab and West Bengal.

Hike CST to 4% or compensate adequately: States to Centre

Irked over Centre's approach over CST compensation, states on Saturday asked it to either compensate them adequately for their revenue loss due reduction in the Central Sales Tax (CST) or increase the levy to earlier rate of 4 percent.