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YSRCP raises in Rajya Sabha delay in GST revenue loss compensation


Date: 11-12-2019
Subject: YSRCP raises in Rajya Sabha delay in GST revenue loss compensation
The YSR Congress Party (YSRCP) on Tuesday voiced concern over the delay by the Centre in paying Andhra Pradesh the guaranteed compensation for its Goods and Services Tax (GST) revenue loss for August-September.

During a special mention in Rajya Sabha, YSRCP member Vijaysai Reddy said Andhra Pradesh has been suffering the GST revenue loss since August this year. Revenue officials have calculated the state's GST revenue loss at Rs 1,605 crore.

"It is mandatory for the Centre to release the GST loss to states once in two months. The Government of India has not paid the compensation for GST revenue loss to Andhra Pradesh for August and September, which was supposed to be paid in October," Reddy said.

The October-November period loss has to be paid by December 10, he added. The GST was rolled out in July 2017. As per the provision of GST, the Centre would compensate to state governments for any revenue loss in the first five years of the implementation of the GST.

Source: moneycontrol.com

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