Chief Minister Shri Bhupesh Baghel has written a letter to Prime Minister Shri Narendra Modi regarding GST compensation grant. He has urged the Prime Minister to continue the present system of GST compensation for the next 10 years. The Chief Minister has also mentioned in his letter that any alternative permanent arrangement for compensation of revenue to the producing states should be made by the Central Government at the earliest. Chief Minister Shri Bhupesh Baghel has said that the discontinuation of GST compensation grant for producing states like Chhattisgarh is a big economic loss, whereas as a producer state, our contribution in the development of the country’s economy is much more than those states, Those who have benefited in the GST tax system due to higher consumption of goods and services. If the GST compensation grant is not given after June 2022, then in such a situation Chhattisgarh is likely to lose revenue of about Rs 5 thousand crore in the coming year. Similarly, many other states will also face shortfall in revenue in the coming year. Due to which it will be very difficult to arrange for the lack of funds in the ongoing public interest and development works in the state. Chief Minister Shri Bhupesh Baghel in his letter to the Union Finance Minister along with the Chief Ministers and Finance Ministers of the states on December 2021 in New Delhi. The discussion meeting before 2022-23 has also been mentioned and said that many states including Chhattisgarh had requested to increase the GST grant in this meeting. The states are expecting a positive decision from the central government in this regard. Chief Minister Bhupesh Baghel has said that after the implementation of the GST tax system, the taxation rights with the states have become very limited and in addition to commercial tax, other tax revenue related to revenue. Not many possibilities. Although every effort is being made by us to generate revenue, but at least the present compensation grant system should be continued for the next 10 years till the effects on the economy of the states due to Kovid-19 are recovered and the real benefits of the GST tax system are realized. needed. The Chief Minister has also appealed to the producing states to make any alternative permanent arrangement to compensate the revenue from the Central Government. The Chief Minister has expressed hope that the Prime Minister will agree with this concern of the states and according to the spirit of cooperative federalism, consider this important issue in the interest of the states and solve it. Like this:Like Loading… Continue Reading