Naveen demands immediate decision by Centre for compensation of CST loss

Naveen Patnaik reiterated the demand for an immediate decision by the Centre for compensation of CST loss.

Published: 20th September 2016 02:32 PM  |   Last Updated: 20th September 2016 02:32 PM   |  A+A-

Naveen

Photo - Naveen Patnaik, Chief Minister of Odisha | File Photo

BHUBANESWAR: Chief minister Naveen Patnaik today reiterated the demand for an immediate decision by the Centre for compensation of CST loss to states for 2013-14 to 2016-17 for the implementation of GST.

"As you are aware the states are facing financial constraint due to a slowdown in the economy and the loss of revenue on account of reduction in rate of CST during 2013-14 to 2016-17 has further impacted the financial position," the chief minister said in a letter to union finance minister Arun Jaitley.

Requesting him to take immediate decision for compensation to states, the chief minister said, "I look forward to your response in the matter at the earliest."

Referring to the recommendations made by the empowered committee of state finance ministers at a meeting in Bhubaneswar on January 28 and 29, 2013, the chief minister said the Centre was required to give 100 percent CST compensation to states upto 2010-11, 75 percent compensation for 2011-12 and 50 percent compensation for 2012-13.

It was decided at the meeting to consider payment full CST compensation for 2013-14 and 2014-15, in case GST was not implemented during 2013-14. Accordingly, the Centre has been releasing the compensation for CST loss to the states upto 2012-13. However, no decision has been taken regarding compensation of CST loss to states for 2013-14 to 2016-17, he said.

The Odisha assembly has ratified the Constitution (122nd Amendment) Bill, 2014 unanimously at a special session of the assembly on September 1, 2016 after the Bill was passed in both the houses of Parliament.

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