Bahra University

Shimla: Himachal Pradesh has demanded higher GST compensation amount due to the adverse effect from the Covid-19.

The Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman chairing the 41st GST Council meeting via video conferencing, in New Delhi. The Minister of State for Finance and Corporate Affairs Anurag Singh Thakur also attended the meeting.

Himachal Pradesh Industries Minister Bikram Singh, in the GST Council meeting, stated that Covid-19 has badly affected the state economy, which has increased the need for Goods and Services Tax compensation amount.

In the Goods and Services Tax (GST) Council meeting held in New Delhi today through video conferencing from Shimla, Minister apprised that implementation of Good and Services Tax, compliance of filing of returns of the state has always been higher than the national average, which reflects the commitment of the state in effective implementation GST.

Union Finance Minister Nirmala Sitharaman presided over the meeting. Minister of State Anurag Thakur was present at the meeting.

Industries Minister said that funds would be collected under compensation cess for losses of the State upto June, 2022. Due to Covid-19 the amount received is very less and the need of compensation has increased. Keeping in view the present situation increases in cess rate and implementing cess on other goods is not appropriate. In this situation, State can take loans only when it does not have the burden of interest and the capacity of taking loan does not get affected. 

He provided detailed information about various matters related to Goods and Services Tax in Himachal Pradesh.