RAIPUR: Congress-ruled Chhattisgarh has expressed apprehension of a huge revenue loss to be faced by the mining and manufacturing states and demanded that the provision for 14 percent protected revenue, which will cease from June 30 this year, should continue for another five years.
Sharing the data with Union Finance Minister Nirmala Sitharaman in his letter about loss of revenue suffered over the past four years, Chhattisgarh Commercial Taxes Minister T S Singhdeo said “ending the provision will lead to heavy loss of revenue for the state. If the protective revenue provision is not continued then the 50 percent formula for CGST and SGST should be changed to SGST 80-70 percent and CGST 20-30 percent.”
Singhdeo, who tested Covid positive a few days ago, couldn’t attend the GST Council meet and urged the finance minister to put forth the suggestions stated in his letter. “Unless the GST Council members ensure financial stability through national revenue realisation for each state, the concept for which the Council was set up may appear to be untenable,” he said.