Quick Summary
Two more States - Kerala and West Bengal choose Option-1 to meet the GST implementation shortfall 25 States and all Union Territories with Legislative Assembly have favoured Option-I Kerala and West Bengal will get Rs. 10,197 crore through special borrowing window to meet the GST implementation shortfall. Permission to raise additional Rs.11,309 crore through borrowings also issued to Kerala and West Bengal. Governments of Kerala and West Bengal have communicated their acceptance
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
Option-1 is a scheme where states and union territories can receive funds to meet revenue shortfalls caused by GST implementation through a special borrowing window facilitated by the Indian government.
Kerala and West Bengal will receive Rs. 10,197 crore through the special borrowing window to address their GST implementation shortfall.
Kerala has been granted permission to raise an additional Rs. 4,522 crore, and West Bengal has received permission for an additional Rs. 6,787 crore, which is 0.5% of their respective GSDPs.
As of the latest update, 25 states and all 3 Union Territories with Legislative Assemblies (Delhi, Jammu & Kashmir, and Puducherry) have chosen Option-1.
The special borrowing window has been operational since 23rd October 2020.
CAclubindia
