Sixteen states cutting across party lines on Wednesday pitched for extending the mechanism to compensate states for revenue lost from the implementation of the Goods and Services Tax (GST) beyond June 30, though no decision was taken on the issue. - File photo
Chandigarh, June 29
Sixteen states cutting across party lines on Wednesday pitched for extending the mechanism to compensate states for revenue lost from the implementation of the Goods and Services Tax (GST) beyond June 30, though no decision was taken on the issue.
Talking to media about deliberations at the two-day GST Council meeting here, Union Finance Minister Nirmala Sitharaman said finance and other ministers of 16 states spoke on the compensation issue. “Only three-four states spoke about evolving own resources to break from the compensation mechanism,” said Sitharaman, declining to comment further on the issue.
When the GST was rolled out, states were promised compensation for any loss of revenue from the new tax regime for five years, a period that ends on June 30. With two years being lost in the Covid pandemic, the states have sought an extension of the relief mechanism.
“The states said the compensation can be continued at least for a few years, if not another five years,” she said.
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