Special Window Borrowing for GST compensation shortfall-Centre coordinates market debt with Cess backed repayment and interest support.
Two borrowing frameworks are set out for addressing the GST compensation shortfall. Under the Special Window, the Centre coordinates State market borrowing, subsidises limited interest cost differentials versus G sec yields, grants special Article 293 permission above normal ceilings, and provides that interest and principal are to be paid from the Compensation Cess, with the amounts not treated as State debt for prescribed norms. The alternative permits States to borrow directly, service interest from their resources, and receive Centre commitment for principal repayment from Cess proceeds after the transition period, with modified eligibility and reform linked limits.

GST matching tool reconciles GSTR 2B with purchase registers offline, using seven parameter matching, tolerances and CSV export.
The Matching Offline Tool reconciles Form GSTR 2B with a taxpayer's purchase register offline by importing GSTR 2B JSON and a prescribed purchase register template under a profile per GSTIN. Records are matched on seven parameters (GSTIN, document type, number, date, taxable value, total tax and tax head amounts) and classified as Exact Match, Partial Match, Probable Match, Unmatched, In GSTR 2B not in PR or In PR not in GSTR 2B. Users may set per tax head tolerance (0-10) and enable approximation for document numbers; results can be filtered, refined and exported as CSV/Excel.

GST compensation due to states faces shortfall; borrowing options and cess extension proposed to bridge the gap.
Provisional GST compensation liabilities to states for 2020-21 total Rs. 1,51,365 crore, driven down by COVID 19 lockdown effects and a contraction in nominal GDP. The 41st GST Council offered two borrowing options-an RBI facilitated special window for a portion of shortfall or full market borrowing-and allowed states to choose their preferred option, with compensation cess extension proposed to repay borrowings. The Centre's GST target and actual collections to August 2020 are substantially below budgeted estimates.

GST revenue collection declines year-on-year; IGST settled to CGST/SGST and small-taxpayer filing relief further extended.
Gross GST revenue for August 2020 was lower year on year, allocated among CGST, SGST, IGST and cess; regular IGST settlements were made to CGST and SGST producing net receipts for Central and State Governments, imports and domestic receipts declined relative to the same month last year, and return filing relief for taxpayers below the turnover threshold was extended.