Extend period of GST compensation to states by 5 years: Rajasthan CM Gehlot

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Categories: GST Recent News

Rajasthan Chief Minister Ashok Gehlot on Friday demanded that the Centre should extend the period of GST compensation by five years from June 2022 to June 2027 in view of the critical financial position due to the COVID-19 pandemic.

He said the lockdown imposed in the state during the pandemic has had a very negative impact on its revenue.

While implementing GST, it was said that in five years, there will be stability in revenue and state will get a definite growth rate in revenue, Gehlot said.

“But till now, the GST revenue receipts have not stabilised as expected and the economic condition of the states has become critical due to the economic slowdown and the COVID-19 pandemic,” he said in a statement.

The chief minister said no state has been able to face this economic crisis alone.

“Therefore, it is necessary to increase the period of GST compensation to the states by five years, he said.

Gehlot added that Rajasthan’s GST compensation of Rs 4,822.63 crore is pending from 2017-18 to May 2022-23. This matter has been raised several times by the state at the level of the GST Council but the amount has not been released yet, he said.

Source from: https://www.business-standard.com/article/economy-policy/extend-period-of-gst-compensation-to-states-by-5-years-rajasthan-cm-gehlot-122070101501_1.html

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