K'taka CM urges Centre to extend GST compensation
period upto 2024-25
Karnataka Chief Minister Basavaraj Bommai on Monday
requested the Centre to extend the GST compensation for
a period up to 2024-25.
Bommai presented the
request when he called on Union Finance minister Nirmala
Sitharaman in New Delhi on Monday.
"The period of GST
compensation, being paid by the Union government, is set
to end in March 2022. But the states are facing a
resource crunch due to the COVID-19 impact. In this
background, the Union government should extend the GST
compensation time limit up to 2024-25 to help the
states," said Bommai.
"The Union government had
provided GST compensation for the last two years through
loans. The same gesture should continue for three more
years and the loans could be repaid through a collection
of GST Cess," he added.
The chief minister held a
meeting with all MPs from the State in the national