Telephone : 0091-820-4295571 This would help the State in augmenting its revenue in the present financial year.’’. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. However, in this option unconditional borrowing of 1 per cent of GSDP (Rs 18,036 crore) will not be separately available to the state. KUMARASWAMY. Kankanady, After the evaluation of both these options, it is felt that Option 1 would be more beneficial to the state's finances.

Co-operation Department exluding Agriculture Marketing, 1. Udupi: Pandukallu - Shivapura road development to benefit 11,000 villagers.

Karkala: NITTE conducts 10th annual virtual convocation.

However, in this option unconditional borrowing of 1 per cent of GSDP (Rs 18,036 crore) will not be separately available to the State.

General Enquiry: [email protected], Agricultural Marketing from Co-operation Department, 1.

This would help the State in augmenting its revenue in the present financial year, as per the State Government’s decision that will be conveyed to the GST Council. Large and Medium Scale Industries from Commerce and Industries Department, 1. Mangalore - 575 008 Hence Government of Karnataka has decided to convey to Government of India its preference for Option 1. Oct 9: 376 fresh corona cases in Dakshina Kannada, Udupi reports 179; 3 deaths in twin districts. Health and Family Welfare excluding Medical Education, Small Scale Industries from Commerce and Industries Department, 1. Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible. | Contact | Disclaimer | Terms of Use | Connect with Us: 1. Out of this Rs.6,965 crore would come from the cess collected. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request. And for the remaining amount of Rs 18,543 crore would be allowed to borrow through an issue of market debt. Airport Road, Bondel Post, Daijiworld Residency, For reprint rights: Times Syndication Service, BENGALURU: With just seven days left to choose between two options on the state’s GST compensation recovery, chief minister, Karnataka CM BS Yediyurappa weighs 2 GST recovery options; call after Union finance minister meeting, Finance dept worried about cost of GST borrowings, Woman delivers baby on Delhi-Bengaluru flight, Mangaluru: Regional history being kept alive through murals, India's Covid curve offers better news, active cases drop below 9 lakh after 1 month, HAL employee arrested for supplying fighter jet information to Pakistan, Shocking: BJP MLA's relative shot dead during morning walk in Ghaziabad, Fodder scam: Former Bihar CM Lalu Prasad Yadav gets bail in Chaibasa treasury case, to remain in jail, Iron rich drinks that help increase haemoglobin, Best eReaders For Kids: For Your Keen Little Reader At Home, Picture books for kids to develop and improve identification skills, Terms of Use and Grievance Redressal Policy. ... Karnataka would be eligible for total compensation of Rs 18,289 crore. Email: [email protected]. The Text of the Press Statement issued by the Government is: "We are happy to note that the rights of the states with respect to their entitlement of entire compensation due under GST have been recognised and accepted by the central government. Further under Option 2, the interest on the above borrowing through the issue of the market debt shall be paid by the State from its own resources. Mangaluru: Excise officials conduct raid - Arrest six, register seven cases of drug consumption. Tel: 971-50-6597629 Kadiyali, Udupi – 576 102 Out of this Rs.6,965 crore would come from the cess collected. Kasargod: Car rams into wall - Health officer dies, six others including doctor injured. P.O.Box: 84772, Dubai, UAE Major and Medium Irrigation from Water Resources Department, 1. Kasargod: Rising coronavirus cases - DC Sajith Babu extends prohibitory orders till Oct 16. The Times of India News App for Latest City News, Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. The Government of India provided two options with a view to enabling the states to give their preference and views on GST compensation. Chief Minister B S Yediyurappa, who is also the Finance Minister for the State, informed the decision after discussions held with officials of the Finance Department. Out of this Rs.6,965 crore would come from the cess collected.

As a result, the net borrowing of the State will reduce substantially by an amount of Rs 10,817 crore. Published by Daijiworld Media Pvt Ltd., Mangalore. 3rd Floor, Mandavi Trade Centre, The Option 1, suggested by the Union Finance Minister provides for compensating the losses to the state following the implementation of GST. All Rights Reserved. Bengaluru, Sep 2: Expressing happiness at the Centre’s decision to concede "the rights of the states with respect to their entitlement of entire compensation due under GST" and "recognise and accept the same while agreeing that the arrears of compensation during the transition period would be met by extension of the Cess beyond 2022 if so decided by the GST Council," Karnataka has decided to choose the Option 1 suggested by Union Finance Minister Nirmala Sitharaman during the deliberations of the GST Council. All subjects pertaining to Bangalore City from Urban Development Department, 1. Karnataka Ministers - Find the complete details of Karnataka State Ministers on Saturday, 10 October 2020 Karnataka Transport Minister. © Copyright 2019. GST Compensation: Karnataka chooses Option 1 suggested by Finance Minister Nirmala Sitharaman.