{"id":2144,"date":"2020-10-16T17:30:29","date_gmt":"2020-10-16T12:00:29","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=2144"},"modified":"2020-10-19T10:28:30","modified_gmt":"2020-10-19T04:58:30","slug":"current-affairs-indias-goods-and-services-tax-gst-bill-explained-2","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/current-affairs-indias-goods-and-services-tax-gst-bill-explained-2\/","title":{"rendered":"India\u2019s Goods and Services Tax (GST) Bill Explained: GST Compensation to States"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/current-affairs-indias-goods-and-services-tax-gst-bill-explained-2\/#GST_Compensation_to_States\" >GST Compensation to States<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/current-affairs-indias-goods-and-services-tax-gst-bill-explained-2\/#RBI_Grade_B_2020_Online_Course\" >RBI Grade B 2020 Online Course\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/current-affairs-indias-goods-and-services-tax-gst-bill-explained-2\/#SEBI_Grade_A_Online_Course\" >SEBI Grade A Online Course<\/a><\/li><\/ul><\/nav><\/div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Recently, there has been a lot of <\/span><i><span style=\"font-weight: 400;\">news<\/span><\/i><span style=\"font-weight: 400;\"> around the <\/span><b><i>GST Compensation to the states<\/i><\/b><span style=\"font-weight: 400;\">. <\/span><span style=\"font-weight: 400;\">Considering the importance of the topic and its impact on the Indian economy, it is expected that one may face questions based on this bill in <\/span><i><span style=\"font-weight: 400;\">interviews<\/span><\/i><span style=\"font-weight: 400;\"> and <\/span><i><span style=\"font-weight: 400;\">group discussions<\/span><\/i><\/span><span style=\"font-weight: 400; color: #000000;\">. Let us learn all about it and know here about the history and the current scenario of GST Compensation to States.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"GST_Compensation_to_States\"><\/span><span style=\"color: #000000;\"><strong>GST Compensation to States<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span style=\"color: #000000;\"><strong>Goods &amp; Services Tax (GST): What is it?<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The goods and services tax (GST) is an indirect tax levied on most goods and services sold for domestic consumption.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services.<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Goods &amp; Services Tax Council <\/strong><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\">It is a constitutional body under Article 279A for making recommendations to the Union and State Government on issues related to Goods and Service Tax.<\/span><\/li>\n<li><span style=\"color: #000000;\">It was introduced by the Constitution (One Hundred and First Amendment) Act, 2016.<\/span><\/li>\n<li><span style=\"color: #000000;\">The GST Council is chaired by the Union Finance Minister and other members are the Union State Minister of Revenue or Finance and Ministers in-charge of Finance or Taxation of all the States.<\/span><\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>GST (Compensation to States) Act, 2017<\/strong><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\">As per the GST (Compensation to States) Act, 2017, states are guaranteed compensation for revenue loss on account of implementation of GST for a transition period of five years (2017-2022).<\/span><\/li>\n<li><span style=\"color: #000000;\">The compensation is calculated based on the difference between the current states\u2019 GST revenue and the protected revenue after estimating an annualised 14% growth rate from the base year of 2015-16.<\/span><\/li>\n<li><span style=\"color: #000000;\">If a state\u2019s GST revenue grows slower than 14 per cent, such \u2018loss of revenue\u2019 will be taken care of by the Centre by providing GST compensation grants to the state.<\/span><\/li>\n<li><span style=\"color: #000000;\">Any shortfall has to be compensated from the receipts of Compensation Cess imposed on selected commodities that attract a GST of 28 per cent.<\/span><\/li>\n<li><span style=\"color: #000000;\">At present, the cess levied on sin and luxury goods such as tobacco and automobiles flow into the compensation fund.<\/span><\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Current Scenario:<\/strong><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\">GST compensation payments to states have been pending since April, with the pending amount for April-July estimated at Rs 1.5 lakh crore.<\/span><\/li>\n<li><span style=\"color: #000000;\">The GST compensation requirement is estimated to be around Rs 3 lakh crore this year, while the cess collection is expected to be around Rs 65,000 crore \u2013 an estimated compensation shortfall of Rs 2.35 lakh crore.<\/span><\/li>\n<li><span style=\"color: #000000;\">To compensate for the loss, two options presented by the Centre for borrowing by States to meet the shortfall:<\/span><\/li>\n<li><span style=\"color: #000000;\">The first was a special window to states, in consultation with the RBI, to borrow the projected GST shortfall of Rs 97,000 crore, and an amount that can be repaid after five years of GST, ending June 2022, from the compensation cess fund.<\/span><\/li>\n<li><span style=\"color: #000000;\">A 0.5% relaxation in the borrowing limit under The Fiscal Responsibility and Budget Management (FRBM) Act would be provided, delinked from the conditions announced earlier as part of the pandemic package linked to the implementation of reform measures such as universalisation of \u2018One Nation One Ration Card\u2019, ease of doing business, power distribution, and augmentation of urban local body revenues.<\/span><\/li>\n<li><span style=\"color: #000000;\">The second option was to borrow the entire projected shortfall of Rs 2.35 lakh crore \u2013 both on account of faltering GST collections and the expected shortfall due to the pandemic \u2013 facilitated by the RBI. No FRBM relaxation has been mentioned for this option so far.<\/span><\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Significance of GST for states:<\/strong><\/span><\/h3>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">States no longer possess taxation rights after most taxes, barring those on petroleum, alcohol, and stamp duty were subsumed under GST.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"color: #000000;\">GST accounts for almost 42% of states\u2019 own tax revenues, and tax revenues account for around 60% of states\u2019 total revenues.<\/span><\/li>\n<\/ul>\n<p><strong><span style=\"color: #000000;\">Source: The Hindu and Indian Express<\/span><\/strong><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><span style=\"color: #000000;\"><b><b>What is India\u2019s Goods and Services Tax (GST) Bill?<\/b><\/b><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">GST stands for Goods and Services Tax and is also known as <\/span><span style=\"font-weight: 400;\">Constitution (122<\/span><span style=\"font-weight: 400;\">\u00a0Amendment) Bill, 2014.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">It is a single <\/span><span style=\"font-weight: 400;\">value-added tax<\/span> <span style=\"font-weight: 400;\">levied at all points in the supply chain of g<\/span><span style=\"font-weight: 400;\">oods and services. <\/span><span style=\"font-weight: 400;\">Credit is allowed for any tax paid on inputs. It would apply to both goods and services in a comprehensive manner. GST is best explained by this one line:<\/span><\/span><\/p>\n<h4 style=\"text-align: center;\"><span style=\"color: #ff6600;\"><b><i>One Country, One Tax, One Market. \u00a0<\/i><\/b><\/span><\/h4>\n<p style=\"text-align: justify;\"><a style=\"color: #000000;\" href=\"http:\/\/www.finmin.nic.in\/press_room\/2016\/GST_FAQ.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"><b><b>Proposed GST Bill<\/b><\/b><\/a><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #000000;\">India has a federal structure. Accordingly, it has been proposed that GST will be levied by both, the Centre (CGST) and the states (SGST). It is expected that the essential design features would be common between CGST and SGST for individual states.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Some key features<\/span><span style=\"font-weight: 400;\"> of GST Bill<\/span><span style=\"font-weight: 400;\">:<\/span><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; color: #000000;\">exports would be zero-rated<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; color: #000000;\">imports would be taxed in the same manner as domestic goods and services<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; color: #000000;\">for inter-state supplies within India, an Integrated GST (aggregate of CGST and the SGST of the destination State) will be levied<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; color: #000000;\">in addition to the IGST, an additional tax of up to 1% has been proposed to be levied by the Centre, the revenue from which will be assigned to origin states. <\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Goods and Services T<\/span><span style=\"font-weight: 400;\">ax <\/span><span style=\"font-weight: 400;\">Rate: <\/span><span style=\"font-weight: 400;\">According to Government there would be two slabs-<\/span><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; color: #000000;\"> a lower rate slab for essential items and, <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; color: #000000;\"> another effective rate for most items<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #000000;\">\u00a0<\/span><\/p>\n<table style=\"height: 378px;\" width=\"831\">\n<tbody>\n<tr>\n<td>\n<h3 style=\"text-align: center;\"><span style=\"color: #000000;\"><b>Central Taxes Being Subsumed in GST Bill<\/b><\/span><\/h3>\n<\/td>\n<td>\n<h3 style=\"text-align: center;\"><span style=\"color: #000000;\"><b>State Taxes Being Subsumed in GST Bill<\/b><\/span><\/h3>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400; color: #000000;\">Central Excise Duty<\/span><\/p>\n<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400; color: #000000;\">State Value Added Tax\/Sales Tax<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400; color: #000000;\">Additional Excise Duty,<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400; color: #000000;\"> Entertainment Tax<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400; color: #000000;\"> Service Tax<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400; color: #000000;\">Octroi and Entry tax<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400; color: #000000;\">Additional Customs Duty ( Countervailing Duty )<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400; color: #000000;\">Purchase Tax, Taxes on lottery, betting and gambling<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400; color: #000000;\">Special Additional Duty of Customs<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400; color: #000000;\">Luxury tax<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><b>The Benefits of India\u2019s GST Bill ( Sector-wise )<\/b><\/span><\/p>\n<p style=\"text-align: justify;\">In GST, an efficient input tax credit system ensures that <i>there is no cascading of taxes<\/i>. GST is levied only on the value-added at every stage of production.<\/p>\n<h4 style=\"text-align: justify;\"><span style=\"text-decoration: underline; color: #000000;\"><b><i>GST Bill Benefits: For business and industry <\/i><\/b><\/span><\/h4>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-weight: 400; color: #000000;\">Uniformity of tax rates and structures would make doing business in the country tax neutral, irrespective of the choice of place of doing business. <\/span><\/li>\n<li><span style=\"font-weight: 400; color: #000000;\">Goods and Services Tax Bill ensures that there is minimal cascading of taxes. This would reduce the hidden costs of doing business. <\/span><\/li>\n<li><span style=\"font-weight: 400; color: #000000;\">Reduction in transaction costs of doing business would eventually lead to an improved competitiveness for the trade and industry. <\/span><\/li>\n<li><span style=\"font-weight: 400; color: #000000;\">\u00a0GST would reduce the cost of locally manufactured goods and services. This will increase the competitiveness of Indian goods and services in the international market and give a boost to Indian exports. <\/span><\/li>\n<\/ul>\n<h4 style=\"text-align: justify;\"><span style=\"text-decoration: underline; color: #000000;\"><b><i>GST Bill \u00a0Benefits: For Central and State Governments<\/i><\/b><\/span><\/h4>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-weight: 400; color: #000000;\">GST would be simple and easy to administer as multiple indirect taxes at the Central and State levels are being replaced by one tax. <\/span><\/li>\n<li><span style=\"font-weight: 400; color: #000000;\">GST is expected to decrease the cost of collection of tax revenues of the Government, and will, therefore, lead to higher revenue efficiency. \u00a0<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"text-decoration: underline; color: #000000;\"><b><i>GST Bill Benefits: \u00a0For the consumer <\/i><\/b><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-weight: 400; color: #000000;\">Under GST, there would be only one tax from the manufacturer to the consumer, leading to transparency of taxes paid to the final consumer. <\/span><\/li>\n<li><span style=\"font-weight: 400; color: #000000;\">Because of efficiency gains and prevention of leakages, the overall tax burden on most commodities will come down, which will benefit consumers. \u00a0<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><b>Concerns Regarding the\u00a0Goods and Services Tax (GST) Bill<\/b><\/span><\/p>\n<ol style=\"text-align: justify;\">\n<li><span style=\"font-weight: 400; color: #000000;\">The Tax on services would go up substantially from 14% to 20%<\/span><\/li>\n<li><span style=\"font-weight: 400; color: #000000;\"> Tax on retail would be almost double.<\/span><\/li>\n<li><span style=\"font-weight: 400; color: #000000;\"> Imported goods would be taxed at a higher rate.<\/span><\/li>\n<li><span style=\"color: #000000;\">There will be dual control on every business by Central and State Government.<\/span><\/li>\n<\/ol>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><b><i><b><i>Timeline of events that have led to the GST Bill Amendment<\/i><\/b><\/i><\/b><\/span><\/h3>\n<p style=\"text-align: justify;\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2146 size-full aligncenter\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2016\/10\/ey-gst-timeline-august-2016.jpg\" alt=\"GST Explained benefits concerns rates\" width=\"1281\" height=\"720\" \/><\/p>\n<p style=\"text-align: justify;\">Source:<a href=\"http:\/\/eycomstg.ey.com\/in\/en\/services\/tax\/ey-goods-and-services-tax-gst\" target=\"_blank\" rel=\"noopener noreferrer\"> EY.com<\/a><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"RBI_Grade_B_2020_Online_Course\"><\/span><span id=\"RBI_Grade_B_2020_Online_Course\" style=\"color: #000000;\"><span id=\"RBI_Grade_B_2020_Online_Course_by_Oliveboard\"><strong>RBI Grade B 2020 Online Course\u00a0<\/strong><\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Oliveboard has come up with RBI Grade B Online Cracker Course<\/strong>\u00a0for\u00a0<strong>RBI Grade B 2020<\/strong>\u00a0Exam. Oliveboard\u2019s\u00a0<span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/rbi-grade-b\/?ref=Rbiblog\" target=\"_blank\" rel=\"noopener noreferrer\"><em><strong>RBI Grade B Online Course 2020<\/strong><\/em><\/a><\/span>\u00a0will be your one-stop destination for all your preparation needs<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">What all the course offers you:<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span id=\"Course_Details\" style=\"color: #000000;\"><span id=\"1_Course_Details\"><strong>Course Details<\/strong><\/span><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">RBI Grade B Cracker is designed to cover the complete syllabus for the 3 most important subjects:\u00a0<strong>GA for Phase 1 and ESI + F&amp;M for Phase 2 exam.<\/strong>\u00a0Not just that, it\u00a0also includes\u00a0<strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/rbi-grade-b\/?ref=Rbiblog\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Mock Tests<\/em><\/a><\/span>\u00a0&amp; Live Strategy Sessions<\/strong>\u00a0for\u00a0<strong>English, Quant &amp; Reasoning\u00a0<\/strong>for Phase 1. The course aims to complete your preparation in time for the release of the official notification.<\/span><br \/>\n<u><\/u><\/p>\n<h3 style=\"text-align: justify;\"><span id=\"Features\" style=\"color: #000000;\"><span id=\"11_Features\"><strong>Features:<\/strong><\/span><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/www.oliveboard.in\/rbi-grade-b\/?ref=Rbiblog\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-61711\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2020\/09\/unnamed-1.png\" alt=\"RBI Grade B 2020 Online Course\" width=\"497\" height=\"621\" \/><\/a><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/rbi-grade-b\/?ref=Rbiblog\" target=\"_blank\" rel=\"noopener noreferrer\"><em><strong>Use Coupon Code \u2018MY20\u2019 to avail a 20% discount on RBI Courses!<\/strong><\/em><\/a><\/span><\/p>\n<hr \/>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"SEBI_Grade_A_Online_Course\"><\/span><span id=\"SEBI_Grade_A_Online_Course\" style=\"color: #000000;\"><strong>SEBI Grade A Online Course<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span id=\"For_your_Complete_Phase_1_and_Phase_2_Preparations\" style=\"color: #000000;\"><strong><em>For your Complete Phase 1 and Phase 2 Preparations<\/em><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">SEBI Grade A Cracker is a course designed to cover all the subjects under Phase I and Phase II exams.<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\">For Paper 1 of Phase I exam all essential subjects like Quantitative Aptitude, Reasoning, and English will be covered through video lectures.<\/span><\/li>\n<li><span style=\"color: #000000;\">For Paper 2 of both Phase 1 and Phase 2, the complete syllabus will be covered through video lessons, and notes.<\/span><\/li>\n<li><span style=\"color: #000000;\">The course will also have strategy sessions and past year paper discussions.<\/span><\/li>\n<li><span style=\"color: #000000;\">This course has been designed in such a way that it can be covered well before the examination.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span style=\"color: #3366ff;\"><strong><em><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/sebi\/?ref=sebiblog\" target=\"_blank\" rel=\"noopener noreferrer\">Enroll for SEBI Grade A 2020 Online Course Here<\/a><\/em><\/strong><\/span><\/p>\n<h3 style=\"text-align: justify;\"><span id=\"Course_Features\" style=\"color: #000000;\"><span id=\"1_Course_Features\"><em><strong>Course Features<\/strong><\/em><\/span><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/www.oliveboard.in\/sebi\/?ref=sebiblog\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-62572 aligncenter\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2020\/09\/daily-crtv-1.png\" alt=\"\" width=\"500\" height=\"538\" \/><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recently, there has been a lot of news around the GST Compensation to the states. Considering the importance of the<\/p>\n","protected":false},"author":2,"featured_media":63329,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,550,2586,10237,10226,320,10247,8661],"tags":[538,77,85,79,95,558,975,917,976,977,978,979,594,862,980,981,710,982,983],"class_list":["post-2144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-nabard","category-notes","category-preparation-resources","category-rbi","category-rbi-grade-b","category-rbi-sebi-nabard","category-sebi-prep","tag-banking-interview","tag-current-affairs","tag-daily-gk-update","tag-gk","tag-gk-digest","tag-gk-questions","tag-gk-topics","tag-group-discussion-topics","tag-gst-benefits","tag-gst-bill","tag-gst-explained","tag-gst-india","tag-interview","tag-mba-interview","tag-one-country","tag-one-tax","tag-study","tag-what-is-gst","tag-what-is-gst-bill-india","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GST Compensation to States: Explained - Oliveboard<\/title>\n<meta name=\"description\" content=\"Know all about the GST Compensation to States along with the explanation of Goods and Services Tax (GST). 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