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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.

 

Jayant Sinha doesn't see any opposition to GST

The long-pending Goods and Services Tax (GST) Bill was on Friday moved in the Lok Sabha for consideration amid stiff resistance by several Opposition parties.

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).

Govt seeks Parliament nod for additional Rs 36,953 cr spending

The government today sought an approval from Parliament for an additional Rs 36,952.86 crore as the final batch of supplementary demands as part of grants for 2014-15 to meet the expenditure, mainly towards CST compensation to states and higher outgo for food subsidy.

States to get 1-year grace period for implementing GST

States will get one-year time to implement the provisions of Goods and Services Tax (GST) after introduction of the new indirect tax regime from April 2016.

Many issues still to be ironed out for GST implementation: Modi

The panel of the state Finance Ministers on GST on Friday said many issues, including a mechanism for CST compensation for the current fiscal, will have to be ironed out before rolling out the new indirect tax regime.

Govt to release Rs 9,000 cr to states in CST compensation

It also expressed the hope that a consensus with states on the Goods and Services Tax, which has been in the works for long, will be reached within a few months.

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 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.

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.