Finance Secretary Ekroop Caur told The Indian Express,
“We get the compensation out of the cess amount that is
collected. So in the last two years, the centre has paid
the compensation as per the formula and in addition they
have raised the loan and given the compensation. So we
have got the compensation. There is some shortfall,
which they will make good over the coming years”.
Matters relating to the merging of GST slabs (5, 12, 18 and
28 per cent) are expected to be taken up at the council.
Additional Chief Secretary of the Finance Department ISN
Prasad was not available for comments.
Karnataka Chief Minister Basavaraj Bommai, who presented his maiden budget
2022-2023 of Rs 2,65,720 crore in the month of March, had not factored in
the GST compensation. He had then stated that the estimated revenue deficit
of Rs 14,699 crore in 2022-23 can be reduced if the Centre agreed to
Karnataka’s request of extending the compensation beyond 2022 in the view of
the losses incurred during pandemic. Karnataka used to get a GST
compensation of Rs 11,000 crore to Rs 14,000 crore.
Source:::THE INDIAN EXPRESS,