New Delhi [India], Dec 4 (ANI): Deputy Chief Minister Manish Sisodia on Wednesday met Union Finance Minister Nirmala Sitharaman here, to discuss delayed transfer of compensation for losses incurred by GST implementation in 2017.
An official statement said, "Counterparts from the states of Kerala, Rajasthan, Punjab, Madhya Pradesh, and Puducherry also joined the meeting, where concerns regarding GST compensation were presented and discussed."
Under the Constitution Amendment Bill, states were guaranteed compensation for 5 years to offset tax revenue shortfall. A letter by the Deputy Chief Minister was also presented in the meeting, highlighting that GST revenues were under stress due to a general slowdown in the economy, the statement said.
The statement further said, "Delhi has also been facing a decline in GST revenue collections. The net GST collection of Delhi Government from April to November 2019 was Rs 12,687 Crores. The total shortfall to be compensated by the Government of India (GoI) is Rs 6,210 crores. Out of this, so far, a compensation of Rs 2,568 Crore for April-May and June-July has been received by GNCTD and a shortfall of Rs 3,642 crores remains."
Earlier this week the Centre said GST collection stood at Rs 1.03 lakh crores for November.
"Delhi is due Rs 3,600 crore, and the Government of India is obligated to follow the act, to provide due compensations to the states", said the Deputy Chief Minister. (ANI)