Search This Website

5/31/21

Cons demand:1.58 lakh crore more than GST estimate required; Call a special session to discuss

Cons demand:1.58 lakh crore more than GST estimate required; Call a special session to discuss



Symbolic image

Non-BJP states demand more GST compensation



The non-BJP states of the country have told the Center that the amount of GST compensation is Rs. 1.58 lakh crore. A special session of the GST Council will be convened to discuss the issue. The finance ministers of Kerala, Punjab and Chhattisgarh made the remarks before the Center on Sunday. "The GST Council meeting was held on May 28," he said. It could not agree on the need to offset the revenue for the financial year 2021-22. So now a special session should be called to discuss this issue.


Also read 

NWDA Recruitmant 2021


In the last meeting of the GST Council, the Center had allocated Rs. 2.69 lakh crore. It said that Rs. More than Rs 1.11 lakh crore will come from cess on luxury as well as tobacco products. The remaining Rs. 1.58 lakh crore will be raised through borrowing. In the financial year 2020-21, the Center borrowed Rs. 1.10 lakh crore was issued to the states, while Rs. 68,700 crore were collected.




What are the arguments of the finance ministers of the opposition states?
Punjab Finance Minister Manpreet Singh Badal said that all the states are facing reduction in GST revenue by 20-50%. That is why a council meeting should be convened every three months to discuss the revenue issue of the states. By April, Punjab's compensation was Rs. 5000 crore was less. Kerala Finance Minister N. "We have Rs. 4077 crore is due. The Center should increase the revenue of the states by 14%. This was promised by the central government while implementing GST. Chhattisgarh Finance Minister TS Singhdev also said that the date of the special session of the GST Council has not been fixed, but it has been decided that the estimates linked to returns and borrowings are from the Center. That needs to be discussed.

No comments:

Post a Comment