gstinmedia Archives

Lockdown: Punjab seeks Rs 3,000 cr interim compensation from Centre citing ”resource gap”

The Punjab government on Tuesday sought from the Centre an interim compensation of Rs 3,000 crore for the month of April in view of “alarming resource gap” and also demanded permission for sale of liquor to mobilise excise revenue. Pointing to the alarming resource gap between…

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April 23, 2020

Input Tax Credit / News and Media

Government Unlikely To Exempt Masks, Ventilators, PPEs From GST. Here’s Why

The government is unlikely to exempt on medical items such as ventilators, PPEs, masks, test kits and sanitisers from goods and services tax as it would lead to blocked input tax credit, increasing the cost of manufacturing and increase the price for consumers. There…

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April 20, 2020

News and Media

INR 1,237 Crore GST Compensation to Punjab

The Centre had earlier released Rs 12,857 crore to Punjab on account of compensation for July 2017-March 2019 and with the clearance of arrears, the total amount paid stands at Rs 14,094 crore. The Centre has released Rs 1,237 crore to Punjab as GST compensation…

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April 13, 2020