The delay in the release of the goods and services tax compensation will be taken up
Punjab finance minister Manpreet Singh Badal said the finance ministers of 7-8 states will meet Union finance minister Nirmala Sitharaman on Wednesday (December 4) to take up the delay in the release of the goods and services tax (GST) compensation.
The minister said they would ask Sitharaman about the way out. “We want to know from her whether we could go for dispute resolution within the (GST) council or approach the tribunal. The CM is also of the view that we should meet her and take up the matter,” he said on Monday evening after a meeting chaired by chief minister Capt Amarinder Singh here to review the fiscal situation of the state. The compensation for August and September is yet to be paid. On November 20, the finance ministers of Punjab, West Bengal, Kerala, Delhi and Rajasthan had requested the Centre to release their GST compensation.
Manpreet, who had voiced his concern over the grave fiscal situation in the state in a note to the chief minister’s office about 10 days ago, said the delay in the release of compensation for two months and arrears totalling Rs 4,100 crore had created a crisis in the state. The review meeting discussed options such as the recovery of tax arrears and motivating taxpayers to make advance deposit of non-GST taxes, available to the state to shore up its revenue receipts to deal with the difficult financial situation. The debt-laden state government is also advancing its borrowings to meet fixed liabilities including pay and pension.
Source- Hindustan Times.