The GST Council has failed to reach a consensus on the issue of compensation cess. Finance Minister has said that Centre is ready to help those states who have readied to borrow. The issue for discussion among the members was- “can the GST Council decide if the Centre should borrow or the States should borrow,” Ms. Sitharaman said. The Finance Minister has said that if borrowing is done by Centre then it would lead to an escalation in borrowing costs for the entire economy, including the private sector.
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