Quick Summary
The two borrowing options to meet the GST Compensation requirement for 2020-21 consequent to the discussions in the 41stmeeting 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.
FAQ :
Two borrowing options have been communicated to the States to meet the GST compensation requirement for 2020-21.
The options are a consequence of discussions held during the 41st meeting of the GST Council on 27th August 2020.
States need to communicate their preference within seven working days.
Yes, a meeting between State Finance Secretaries and the Union Finance Secretary and Secretary (Expenditure) is scheduled for 1st September 2020 to clarify any issues.
Further details are available in the document attached with the press note and in Annexure.
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