The Goods and Services Tax (GST) Council will meet on Monday amid serious differences between the Centre and some Opposition-ruled states over GST compensation, an issue that has brought to the fore the severe fiscal strain at national and state levels. At its 42nd meeting that will be conducted via video conference, the federal tax body will consider the two borrowing options offered earlier to states to meet their short- fall in GST collections. Also, a group of dissenting states including Kerala, West Bengal and Pun- jab which publicly rejected the proposals will suggest terms for further discussions on the issue. Kerala finance minister Thomas Isaac said in an interview on Sunday that if the Centre presses to get the borrowing options cleared by vote and refuses to set up a dispute resolution mechanism, Kerala will move the Supreme Court.
Courtesyg: mint, 05-10-2020
