Categories: Business

2 options for states on compensation in gst council meet

Photo: PTI

gst council meet

new Delhi. States have been given 2 options to compensate for the corona virus. This decision has been taken in the meeting chaired by the Finance Minister. According to the Finance Minister, the states have been given 7 days to consider these options. In the first option, the states will be given a special window for Rs 97000 crore at special rates after discussion with the Reserve Bank. This money can be given back after 5 years through collection of cess. In the other option, the difference of GST compensation which is Rs. 2.35 lakh crore can be met by discussing with the State Reserve Bank itself.

After the meeting, the Finance Minister said that the states have been asked to consider these options in the next 7 days and inform the Finance Ministry about their decision. These options are only for this year, next year the situation will be reviewed again and whatever will be better for the economy will be taken.

This post was published on August 27, 2020 5:30 pm

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