All states choose Option-1 to meet GST implementation shortfall

All the 28 states and three Union Territories (UT) with legislature have decided to go for Option-1 to meet the revenue shortfall arising out of the Goods and Services Tax (GST) implementation, stated an official statement by the Ministry of Finance. Jharkhand, the only remaining state, has now communicated its acceptance of Option-1, it said. The Central government has set up a special borrowing…