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U.T. seeks Rs 373 cr. as GST compensation from Centre - GST Station

U.T. seeks Rs 373 cr. as GST compensation from Centre

U.T. seeks Rs 373 cr. as GST compensation from Centre

    Minister says he has apprised Nirmala Sitharaman

    The territorial administration has sought a GST compensation of ₹373 crore from the Union Government, Minister for Industries M.O.H.F. Shahjahan said on Thursday.

    The Minister said he had apprised Union Finance Minister Nirmala Sitharaman on the need for an early settlement of dues during a meeting of select Finance Ministers, that she convened in New Delhi on Wednesday.

    Mr. Shahjahan was deputed as a representative, as Chief Minister V. Narayanasamy, who holds the Finance portfolio, is recuperating after a knee surgery.

    Huge amount

    For a cash-starved territory, the Minister said an amount of ₹373 crore was huge.

    “I have told the Finance Minister about the importance of the compensation for the U.T. Considering the financial difficulties, and an administration that runs on a small budget, the amount is huge. She has promised to release the amount at the earliest,” the Minister told The Hindu. The Centre had promised to compensate States and Union Territories for the loss suffered during the implementation of GST.

    The Union Territory has not received the compensation for the last four months, Mr. Shahjahan said.

    Source- The Hindu.

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