Punjab FM demands Immediate Release of Rs.50,000 Crore by Centre to Cover GST Losses
Chandigarh/New Delhi, August 21
Punjab Finance Minister Advocate Harpal Singh Cheema has strongly demanded that the Central Government immediately release compensation of Rs.50,000 crore to Punjab to cover losses after GST implementation.
After participating in the two-day meeting of the GST Ministerial Group on health and insurance, rationalizing rates, and compensation cess, Cheema said that since the implementation of GST in 2017, Punjab has suffered a total financial loss of Rs.1,11,045 crore.
He added that despite receiving approximately Rs.60,000 crore as compensation from the Centre, Rs.50,000 crore is still pending. The Central Government had announced a 5-year compensation package to states in lieu of financial losses incurred due to GST implementation, but this com...