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Thursday, May 28, 2020

Opposition MPs raise pending GST compensation to states in Lok Sabha

The GST Council, the apex body which takes decisions about this indirect tax, is schedule to meet next week.

By: ENS Economic Bureau | New Delhi | Updated: December 12, 2019 5:46:44 am
Goods and services tax, GST news, GST winter session of parliament, gst recommendations, business news Raising the issue during Zero Hour DMK member TR Baalu said, “Tamil Nadu is reeling under a cash crunch. It is in a debt trap. Through you, I humbly request the Finance Minister to kindly release the due amount to the State of Tamil Nadu without fail.”

Ahead of the GST council meeting, opposition members raised the issue of pending amount of goods and services tax (GST) compensation in the Lok Sabha on Wednesday.

Raising the issue during Zero Hour DMK member TR Baalu said, “Tamil Nadu is reeling under a cash crunch. It is in a debt trap. Through you, I humbly request the Finance Minister to kindly release the due amount to the State of Tamil Nadu without fail.”

He added, “Last month, … the finance ministers of many states, namely, Delhi, Punjab, Madhya Pradesh, Rajasthan, Chhattisgarh, West Bengal, Kerala and Puducherry, had met the honourable Finance Minister and demanded their rightful share of GST compensation … But, of course, the money has not yet been distributed to the States”

“My State, the State of Tamil Nadu, has not been represented by its Finance Minister or any Minister, but at the same time, the Leader of the Opposition in Tamil Nadu, Dr MK Stalin is vociferously appealing to the Government of India to see that GST compensation is extended forthwith to Tamil Nadu. Tamil Nadu is really at a severe cash crunch”, he added.

Echoing a similar view, TRS member Nama Nageswara Rao said that as per the GST Act, whatever is the shortfall in the revenue of a state, the Centre has to compensate. “Telangana has to get around Rs 4,531 crore till date of IGST. We have requested several times. We have written letters to the Finance Minister, we are also requesting to the House,” he said.

Shiv Sena also raised the issue of GST compensation, with its MP Arvind Sawant saying that Maharashtra Chief Minister Uddhav Thackeray has to the Finance Minister demanding Rs 15,558 crore, which is pending at the central government.

Trinamool Congress member Sudip Bandyopadhyay too raised the same issue, as some other members from the Opposition benches associated themselves to the issue.

The GST Council, the apex body which takes decisions about this indirect tax, is schedule to meet next week.

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