Business

WB, Kerala agree to GST shortfall plan

West Bengal and Kerala have accepted the Centre’s proposal to meet the shortfall in revenue to compensate States for implementing the Goods and Services Tax (GST) through a special borrowing window.

“Kerala and West Bengal will get ₹10,197 crore through the special borrowing window to meet the GST implementation shortfall and permission to raise an additional ₹11,309 crore through borrowings,” the Finance Ministry said.

The development comes a day after West Bengal Chief Minister Mamata Banerjee raised the issue at a meeting with Prime Minister Narendra Modi. Kerala had earlier planned to take legal recourse against the Centre’s solution on the GST compensation impasse after a consensus proved elusive in the GST Council.

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Printable version | Jan 23, 2021 7:59:07 AM | https://www.thehindu.com/business/wb-kerala-agree-to-gst-shortfall-plan/article33178862.ece

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