Skip to main content

Why Centre & states are at war over GST

While getting states on board to launch GST, the Centre had agreed to compensate states for five years if the annual growth in collections was under 14%. The pandemic has resulted in a massive shortfall in collections and may require compensation of Rs 3.5 lakh crore this year. With the cess on cars, tobacco, soft drinks and coal also not generating the required funds, compensation payment has been delayed, prompting a special meeting of the all-powerful GST Council today to deal with the issue on which Opposition-ruled states have come together.

While getting states on board to launch GST, the Centre had agreed to compensate states for five years if the annual growth in collections was under 14%. The pandemic has resulted in a massive shortfall in collections and may require compensation of Rs 3.5 lakh crore this year. With the cess on cars, tobacco, soft drinks and coal also not generating the required funds, compensation payment has been delayed, prompting a special meeting of the all-powerful GST Council today to deal with the issue on which Opposition-ruled states have come together. from Times of India https://ift.tt/3b0hzdh
Labels:

Comments

Post a Comment

Popular posts from this blog

Airtel-Tata DTH merger talks fail, Airtel informs BSE

Bharti Airtel and Tata Group have called off their discussions to merge Airtel Digital TV and Tata Play due to unresolved issues. The proposed deal, aimed at combining the two loss-making DTH operations, involved a share swap where Airtel would potentially hold a majority stake. Bharti Airtel and Tata Group have called off their discussions to merge Airtel Digital TV and Tata Play due to unresolved issues. The proposed deal, aimed at combining the two loss-making DTH operations, involved a share swap where Airtel would potentially hold a majority stake. from Times of India https://ift.tt/gt5oqs7
Post a Comment
Read more

Delta, United & others sue cybersecurity firm for over $2 bn in damages

Following the loss incurred by Crowdstrike’s faulty update in July, which resulted in significant financial damage to shareholders and lawsuits from customers, Delta Airlines, one of the affected companies, is planning to file a class-action lawsuit against the cybersecurity firm. The airlines seeks compensation of up to $500 million from both Crowdstrike and Microsoft, as disclosed in the company’s filing with the US Securities and Exchange Commission (SEC). Following the loss incurred by Crowdstrike’s faulty update in July, which resulted in significant financial damage to shareholders and lawsuits from customers, Delta Airlines, one of the affected companies, is planning to file a class-action lawsuit against the cybersecurity firm. The airlines seeks compensation of up to $500 million from both Crowdstrike and Microsoft, as disclosed in the company’s filing with the US Securities and Exchange Commission (SEC). from Times of India https://ift.tt/wetNQs7
Post a Comment
Read more

WWDC 2025: Apple employee protests during event; unzips his jacket to ....

An Apple employee disrupted the WWDC keynote, protesting during Craig Federighi's presentation. The protester displayed a keffiyeh and employee badge while shouting inaudibly before being escorted off stage. This incident follows similar protests at Microsoft's Build conference, highlighting growing internal dissent within tech companies regarding ethical responsibilities. The disruption, captured on video, has sparked discussion on social media. An Apple employee disrupted the WWDC keynote, protesting during Craig Federighi's presentation. The protester displayed a keffiyeh and employee badge while shouting inaudibly before being escorted off stage. This incident follows similar protests at Microsoft's Build conference, highlighting growing internal dissent within tech companies regarding ethical responsibilities. The disruption, captured on video, has sparked discussion on social media. from Times of India https://ift.tt/zDP59ai
Post a Comment
Read more