States to Discuss Two Options for GST Compensation Cess with Finance Secretary on 1 Sept
·
Cutting Expenditure to Reflect Poor Collection not an
Option!
[MoF
Press Release/29.08.2020]
The two borrowing options to meet the GST Compensation
requirement for 2020-21 consequent to the discussions in the 41st meeting
of the GST Council held on 27th August, 2020 has been communicated to States,
as per the document attached with this press note, to communicate their
preference within seven working days. A meeting of State Finance Secretaries
with the Union Finance Secretary and Secretary (Expenditure) is scheduled to be
held on 1st September, 2020 for clarifying issues, if
any.