CM demands 14,000cr for loss due to GST

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HIGHLIGHTS

  1. Devendra Fadnavis seeks compensation of Rs 14,000 crore over an estimated loss of revenue because og GST.
  2. The Maharashtra CM says the Centre should compensate the state for a period of five years.

MUMBAI: CM Devendra Fadnavis has demanded a compensation of Rs 14,000 crore for the loss of revenue expected after the goods and services tax (GST) regime comes into force.

Fadnavis said at the inter-state council meeting in New Delhi that the state is expected to lose revenue if the GST Bill is passed and the Centre should compensate it for five years. He demanded levying an additional 1% GST in states with a flourishing manufacturing sector.

Also, he said his government was not in favour of Justice M M Punchhi Committee recommendations of uniform number of representation of states in Rajya Sabha.

Source: http://timesofindia.indiatimes.com/city/mumbai/CM-demands-14000cr-for-loss-due-to-GST/articleshow/53245339.cms

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