New Delhi: Many countries demanded that the CESS regime of GST compensation be extended for five years and the share of the United States in a sponsored scheme in the city center was raised when the Covid-19 pandemic had influenced their income.
GST compensation to countries for lack of income generated from local tax subumsing such as VAT in goods and uniform national tax services (GST) will expire in June next year.
There has been a loss of income because the GST tax system, the center has not made arrangements to compensate for the loss of income around RS 5,000 Crore to the next year, so that GST compensation grants must be continued.
For the next five years after June 2022, Minister Chhattisgarh Bhupesh Baghel said.
“Many countries have asked for this.
We have also asked to extend GST compensation.
If it is not extended, many countries will be in a bad condition,” said Deputy Minister of Manish Sisodia after consulting the Minister of State Minister of Finance with the Minister of Finance Nirmala Sitharaman here.
Indicates that Chhattisgarh has received less tax centers by RS 13,089 Crore in the Union budget for the past three years, Baghel demands a central tax share must be given to the country fully in the future.
He also demanded that Rs 4,140 Crore stored with the center at the RS 294 level per ton on coal mining from coal block companies must be immediately transferred to Chhattisgarh.
Education Minister Rajasthan Subhash Garg said the CESS window extension compensation up to 2026-27 is a valid and central country request must consider it.
He also demanded reducing import duty on gold and silver from 10 percent to 4 percent.
“Our most significant request is that the central part in a centrally sponsored scheme has gradually reduced and states stock has increased.
Previous shares will be 90-10 and now 50-50 or 60-40, our request is to go back to 90 -10, “Garg said.
Rajasthan also requested that all irrigation projects and water must be taken under the center of the center and declare the central scheme.
West Bengal also pitched for the extension of GST compensation for five more years with a difficult time because of Covid-19.
The Covid crisis was not anticipated when this was repaired, said the West Bengal City Development Minister & the Minister of Municipality Chandrima Bhattacharya.
He also said that countries also requested to increase the share of the United States in the center-sponsored scheme.
By borrowing the country, he said that additional loan windows must be without limitation.
Minister of Finance Tamil Nadu Piaga Rajan said he had demanded an extension of the GST compensation Cess regime for at least two years because Covid-19.
He also made the case to raise the share of Indian government in a sponsored scheme in the city center.