Karnataka Chief Minister Basavavaraj Bommai on Monday asked the centre to extend GST compensation until 2024-25.
Bommai made the request during a visit to Federal Finance Minister Nirmala Sitharaman in New Delhi on Monday.
“The GST compensation period paid by the federal government is scheduled to end in March 2022. However, states are facing resource constraints due to the impact of COVID-19. Against this backdrop, the federal government should extend the time limit for GST compensation to help states to 2024- 25 years,” said Bommai.
“The federal government has provided GST compensation through loans for the past two years. The same gesture should continue for another three years, with loans repayable through the levy of GST Cess,” he added.
The Chief Minister held a meeting with all MPs in the state in the capital today.
Federal Finance Minister Nirmala Sitharaman and Parliamentary Affairs Minister Prahad Joshi were also present. Union Ministers A Narayanaswamy, Bhagwanth Khuba and Rajeev Chandrasekhar also attended the meeting.
Complete News Source : Business Standard
