This is a roundup of the day’s top stories in brief.
1. GST Compensation: Consensus Elusive
The good and services tax council failed to reach a consensus on the issue contentious issue of pending GST compensation for the states at its 42nd meeting today.
The decision has now been deferred to Oct. 12 when the council will meet again.
However, the Centre will disburse the amount collected as compensation cess this year, approximately Rs 20,000 crore, to states by tonight, Finance Minister Nirmala Sitharaman said in a media briefing.
Sitharaman said that no state will be denied their dues even if a consensus is not reached on Oct. 12.
She also said that the compensation cess will be extended beyond 2022.
2. Waiving Compound Interest: Finding The Good In A Bad Idea
It is now near certain, that we will see a new class of waivers introduced into the Indian banking lexicon. The compound…
