Thiruvananthapuram (Kerala) [India], October 15 (ANI): Kerala Finance Minister Thomas Isaac on Thursday said some states are likely to approach the Supreme Court against Centre's two borrowing options for GST compensation, and Kerala will take the final decision on the matter on Friday in a meeting chaired by Chief Minister Pinarayi Vijayan.
"Some of the states are likely to approach the Supreme Court against discriminatory and illegal action of Centre regarding GST Compensation. Kerala CM to chair a meeting of law, tax and finance departments and advocate general to take final decision on Kerala's stance tomorrow afternoon," he tweeted from his official handle.
After the GST council meeting concluded without reaching any consensus for the second time in two weeks, Isaac said that Kerala will approach Supreme Court with all the nine states opposing Centre's two borrowing options for GST compensation if there is an issue
"Kerala has already declared that it will approach the Supreme Court if there are any issues. Kerala will speak with other states in the coming days. If Kerala goes to Supreme Court, it will be all nine states together," Isaac said while addressing the media.
In the 41st meeting held on August 27, the GST Council presented two options to states regarding GST compensation including a special window in consultation with the Reserve Bank of India (RBI) to provide Rs 97,000 crores at a reasonable interest rate and that the entire GST compensation gap of Rs 2,35,000 crores this year which can be met by them in consultation with RBI. (ANI)