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LATEST NEWS UPDATES | More states want GST compensation cess extended -R Suryamurthy

More states want GST compensation cess extended -R Suryamurthy

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published Published on Sep 19, 2021   modified Modified on Sep 19, 2021

-The Telegraph

Kerala finance minister pitched for extending it beyond June next year as the state was already grappling with a significant revenue shortfall

The clamour for compensation to states beyond June 2022 grew louder on Saturday with Kerala finance minister K.N. Balagopal saying the financial situation of the state would be deeply impacted if the assistance is not extended.

Balagopal pitched for extending the GST compensation beyond June next year as his state was already grappling with a significant revenue shortfall.

He joins Bengal, Chhattisgarh, Punjab, Rajasthan and Delhi in demanding the extension of the compensation.

Analysts said the revenue guarantee has held the GST regime together and if that is snapped the indirect tax regime itself could come under cloud.

Balagopal, who attended the GST Council meeting yesterday in Lucknow, said even BJP ruled states had voiced the need to extend the compensation beyond June 2022.

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The Telegraph, 19 September, 2021, https://www.telegraphindia.com/business/more-states-want-gst-compensation-cess-extended/cid/1831301


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