New Delhi: Many states have demanded that GST Compensation Extend the cess regime for another five years and increase the share of the central government in centrally sponsored schemes as the Covid-19 pandemic has hit their revenues. GST Compensation to states for revenue shortfalls resulting from the inclusion of local taxes such as tub The Goods and Services Tax (GST) will be abolished in June next year in a uniform national tax.
States have suffered loss of revenue due to GST tax system, the Center has not made arrangements to compensate the loss of revenue of about Rs 5,000 crore to the state in the coming year, so the GST compensation grant should be continued after June 2022 For the next five years, Chhattisgarh Chief Minister Bhupesh Baghel said.
Delhi Deputy Chief Minister Manish Sisodia said after pre-budget consultation on finance, “Many states have asked for it. We have also asked for extension of GST compensation. If it is not increased, the financial condition of many states is bad. It will happen.” Minister of State with Union Finance Minister Nirmala Sitharaman here.
Pointing out that Chhattisgarh has got Rs 13,089 crore less share of central taxes in the Union Budget for the last three years, Baghel demanded that the share of central taxes in the coming year should be passed on to the state completely.
He also demanded that Rs 4140 crore deposited with the Center on coal mining from coal block companies at the rate of Rs 294 per tonne should be transferred to Chhattisgarh soon.
Rajasthan Education Minister Subhash Garg said that increasing the Compensation Cess window till 2026-27 is a legitimate demand of the states and the Center should consider it.
He also demanded a reduction in Import duty 10 per cent to 4 per cent on gold and silver.
“Our most important demand is that the share of the Center in the Centrally Sponsored Scheme is gradually reduced and that of the States has increased. Earlier the share was 90-10 and now it is 50-50 or 60-40, we request That it should go back to 90-10,” Garg said.
Rajasthan also requested that all irrigation and water works projects be brought under the purview of the Center and central schemes be announced.
West Bengal also extended the GST compensation for another five years, citing a two-year tough time due to Kovid-19.
covid West Bengal Urban Development and Municipal Affairs Minister Chandrima Bhattacharya said the crisis was not anticipated when it was decided.
He also said that the states have also asked to increase the share of the central government in centrally sponsored schemes.
With regard to state borrowing, it said that the additional lending window should be without any restriction.
Tamil Nadu Finance Minister P Thyaga Rajan said he has sought extension of the GST Compensation Cess regime for at least two years due to Covid-19.
He also made a case for increasing the share of the Government of India in centrally sponsored schemes.
States have suffered loss of revenue due to GST tax system, the Center has not made arrangements to compensate the loss of revenue of about Rs 5,000 crore to the state in the coming year, so the GST compensation grant should be continued after June 2022 For the next five years, Chhattisgarh Chief Minister Bhupesh Baghel said.
Delhi Deputy Chief Minister Manish Sisodia said after pre-budget consultation on finance, “Many states have asked for it. We have also asked for extension of GST compensation. If it is not increased, the financial condition of many states is bad. It will happen.” Minister of State with Union Finance Minister Nirmala Sitharaman here.
Pointing out that Chhattisgarh has got Rs 13,089 crore less share of central taxes in the Union Budget for the last three years, Baghel demanded that the share of central taxes in the coming year should be passed on to the state completely.
He also demanded that Rs 4140 crore deposited with the Center on coal mining from coal block companies at the rate of Rs 294 per tonne should be transferred to Chhattisgarh soon.
Rajasthan Education Minister Subhash Garg said that increasing the Compensation Cess window till 2026-27 is a legitimate demand of the states and the Center should consider it.
He also demanded a reduction in Import duty 10 per cent to 4 per cent on gold and silver.
“Our most important demand is that the share of the Center in the Centrally Sponsored Scheme is gradually reduced and that of the States has increased. Earlier the share was 90-10 and now it is 50-50 or 60-40, we request That it should go back to 90-10,” Garg said.
Rajasthan also requested that all irrigation and water works projects be brought under the purview of the Center and central schemes be announced.
West Bengal also extended the GST compensation for another five years, citing a two-year tough time due to Kovid-19.
covid West Bengal Urban Development and Municipal Affairs Minister Chandrima Bhattacharya said the crisis was not anticipated when it was decided.
He also said that the states have also asked to increase the share of the central government in centrally sponsored schemes.
With regard to state borrowing, it said that the additional lending window should be without any restriction.
Tamil Nadu Finance Minister P Thyaga Rajan said he has sought extension of the GST Compensation Cess regime for at least two years due to Covid-19.
He also made a case for increasing the share of the Government of India in centrally sponsored schemes.
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