is no dispute on this the entire compensation has to be paid it will be paid sitharaman there were certain amounts to be given to states on percentage basis and certain based on actual quantum in the award given by 15th finance commsion last year before covid all these activities has been carried on even during covid fm states asked some specific clarifications which were given many of the clarifications were on attorney generals opinion on borrowing gst councils authority to extend cess collection beyond 5 years sitharaman states expressed happiness on the demand stimulus we have given through the ltc cash voucher scheme and the special festival advance scheme i have requested states too to come up with similar schemes so that indias recovery from covid19 gets a shot in the arm sitharaman i am very grateful that the gst meeting started with each state thanking the centre for the provision of 50year interestfree loans announced today as well as on the additional fund allocation for capital expenditure fm todays meeting was a continuation of the 42nd gst council meeting to discuss one agenda item namely no 9a discussions went on the issue of borrowing extension of cess and so on sitharaman in its previous meet the gst council had decided to extend the levy of compensation cess beyond the transition period of five years for such period as may be required to meet the revenue gap the centre on the request of states also decided to increase the shortfall amount to rs 110 lakh crore from rs 97000 crore under the borrowing option the centre in august gave two options to the states to borrow either rs 97000 crore from a special window facilitated by the rbi or rs 235 lakh crore from the market and has also proposed extending the compensation cess levied on luxury demerit and sin goods beyond 2022 to repay the borrowing when the gst was introduced in july 2017 states were promised a 14 per cent incremental revenue over their last tax receipts in the first five years of gst rollout this was to be done through a levy of a cess or surcharge on luxury and sin goods but the collections on this count have fallen short with the slowdown in the economy since last fiscalwith agency inputswatch gst council meet concludes without consensus top takeaways