VIJAYAWADA: Andhra Pradesh will be getting Rs 689 crore as the Centre has taken a decision to clear the pending balance of GST compensation to the States till June 2022, said Finance Minister Buggana Rajendranath.
In a release issued on Saturday, Buggana, who participated in the 49th GST Council meeting chaired by Union Finance Minister Nirmala Sitharaman in New Delhi, expressed happiness over the council considering the suggestions given by the State government on reducing penalties for small commercial establishments and also setting up an appellate tribunal.
He informed that the council also agreed to revise the penalties being imposed on the firms with a turnover of up to Rs 20 crore for the delay in filing returns.
Similarly, it okayed the report of the Group of Ministers (GoM) on the GST Appellate Tribunal with certain modifications. Buggana is also a member of the GoM. Secretary (Finance) N Gulzar and Chief Commissioner of State Taxes M Girija Shakar also attended the GST Council meeting.