Tamil Nadu yet to get Rs 4,458 crore IGST arrears from Centre

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Tamil Nadu is yet to receive estimated arrears of Rs. 4,458 crore under the Integrated Goods and Service Tax (IGST) for 2017-18 from the Centre and the government has sought the settlement on ‘rolling basis,’ Deputy Chief Minister O. Panneerselvam has said. Mr. Panneerselvam who holds the finance portfolio said the State government had already conveyed to the Centre to settle the sum on ‘rolling basis’ by taking the closing balance of the previous year as the opening balance of the next year so that the outstanding amount is duly settled to the states in a transparent manner. Tamil Nadu is yet to receive estimated arrears of Rs. 4,458 crore under the Integrated Goods and Service Tax (IGST) for 2017-18 from the Centre and the government has sought the settlement on ‘rolling basis,’ Deputy Chief Minister O. Panneerselvam has said.

Mr. Panneerselvam who holds the finance portfolio said the State government had already conveyed to the Centre to settle the sum on ‘rolling basis’ by taking the closing balance of the previous year as the opening balance of the next year so that the outstanding amount is duly settled to the states in a transparent manner. He told the Assembly on Tuesday that there has been increasing patronage from traders and others to the online registration for GST. State Fisheries Minister D. Jayakumar said the AIADMK government will continue to insist upon the Central government to reduce the GST for 69 items. “Already 39 items have been exempted from the ambit of the GST. We will continue to insist upon the Centre to either exempt or reduce the GST for 69 items,” Mr. Jayakumar said.

Commercial Taxes Minister K. C. Veeramani said revenue of Rs 87,905.26 crore has been realized through commercial taxes this year which is an increase by Rs 14,756.98 crore over the previous year. During the current fiscal, a total of 25,73,478 documents were registered fetching a revenue of Rs 11,071.02 crore. Winding up the reply to the demand for grants for his department Mr. Veeramani said new buildings for the department would be built at Karaikudi and Virudhachalam at a cost of `2.5 crores. As part of an initiative to modernize the registration department, it has been proposed to provide Aadhaar linked e-sign for the registration officers. Also, a post of deputy collector (stamp) would be created at Kancheepuram.

Read More at: https://www.deccanchronicle.com/nation/current-affairs/100719/ops-tamil-nadu-yet-to-get-rs-4458-crore-igst-arrears-from-centre.html