Under GST Rate Rationalization, Robust Compensation Mechanism Should Be Created For Financial Stability of States – Harpal Singh Cheema
Chandigarh/New Delhi, August 29
Punjab Finance Minister Advocate Harpal Singh Cheema stated that the central government, under the current proposal to rationalize Goods and Services Tax (GST) rates, should provide adequate compensation to states to prevent financial instability. He emphasized that the benefits of this measure should reach the poor people of the country who are facing inflation, rather than corporate houses.
He stressed that if the current proposal for price rationalization is implemented without a provision for compensation to cover revenue loss, it will lead to financial instability in the states and harm the country's federal structure, which is unacceptable.
Punjab cabinet minister Mr. Cheema who attended an important meeting on-‘consultation of GST rate ration...