Begin typing your search...

States may get better bargain in GST compensation

Odisha records 54% growth in GST collection in July

Odisha records 54% growth in GST collection in July

New Delhi: The compensation amount promised by the Centre is estimated to be higher than the Rs 1.58 lakh crore projected by the Centre, and a special session of the GST council will be convened to discuss it, three opposition-ruled States said on Sunday. Finance ministers of Kerala, Punjab and Chhattisgarh said there was no consensus regarding the compensation requirement in 2021-22 in the May 28 GST council meeting and a special session would be called only to discuss 'Revenue Augmentation and Post June 2022 compensation'. Punjab Finance Minister Manpreet Singh Badal said all States are facing shortfall in the range of 20-50 per cent and "we have said that the council should be meeting every quarter to discuss the revenue situation of States". "The shortfall in compensation up to April is Rs 5,000 crore for Punjab. All opposition-ruled States spoke in one voice that the compensation amount from Centre should be higher," Badal said. Punjab, he said, has been pitching for a discussion on the compensation mechanism that would be adopted after June 2022, as States continue to face revenue gap following the GST implementation than what was collected in the pre-GST times.

Bizz Buzz
Next Story
Share it