PANAJI: Confirming the Bharatiya Janata Party-led central authorities is yet to fully compensate Goa for its shortfall from Goods and Services Tax (GST) sets, transportation minister Mauvin Godinho on Saturday reported that the Centre owes Goa Rs 840 crore because GST payment.
Godinho, who’s the state government’s agent at the GST council, stated Goa faces a fiscal catastrophe if the reimbursement isn’t published in time.
“The quantum that’s been delivered to us so much is Rs 840 crore and what’s because of us is nearly similar, yet another Rs 840 crore,” explained Godinho while covering a media conference.
Godinho stated that the Centre not quits the whole quantum of capital and rather disburses funding in smaller tranches of Rs 120 — Rs 150 crore.
The Centre has released Rs 70,000 crore into the nations as GST reimbursement for the financial year end on March 31.
The authorities met on Friday through a video conference at which the GST panel determined that the Centre could borrow Rs 1.
58 lakh crore and move it to the countries to compensate for its shortfall in their earnings in the execution of the GST.
Throughout the assembly, Godinho encouraged the Centre to allocate extra funds for Goa that’s struggling financially because of the closing of tourism and mining.
In addition, he encouraged the Council to have a sympathetic view towards smaller nations along with the neighboring nations.
“They ought to consider smaller nations that a bit more compared to the focus they are giving now.
We ought to receive the cash first so that we won’t have any monetary catastrophe.
When there’s a shortfall together with the execution of GST, then they need to compensate for this,” explained Godinho.
Goa has requested the center to devote more money, over and above the Rs 850 crore owed to Goa along with also the Rs 300 crore allocated to Liberation Day parties.
Godinho has also made it very clear that Goa will fight to satisfy its dedicated expenditure and capital expenditure demands when the GST settlement is ceased at June 2022.
A special session of this Council is very likely to be convened shortly to think about extending the GST shortfall settlement period to countries beyond 2022.
The transportation minister stated that the Centre should think of an”out-ofthe-box” way to assist nations who’ll continue to confront a GST earnings shortfall following June 2022.
“What would we do then concerning the shortfall? We must continue the payment cess or reevaluate the prices of a few of the goods or open other avenues which will produce more income,” explained Godinho.