CHENNAI: The Centre has released Rs 4,230 crore Goods and Service Tax compensation to the state pending for the year 2020-21 following the fund audit reports, said Finance Minister Palanivel Thiagarajan. Speaking after attending the GST Council meeting in New Delhi on Saturday, he said compensation to the state for the years 2021-22 and 2022-23 is still pending.
The minister also said the GST council has deferred the decision on appellate tribunals, which was based on the proposals made by group of ministers. Thiagarajan said 13 states opposed the proposals made by a group of ministers regarding the setting up of GST appellate tribunals across the country. The opposition pertains to the composition of the tribunals as the state wanted more powers. The debate on the issue lasted for more than three hours, said Thiagarajan.
“Some of the changes were incorporated. There is a remarkable difference in the proposals suggested which were revised after discussion. Still some details are to be worked out before getting assent of the states,” he told reporters in New Delhi.
Highlighting the importance of these tribunals, the minister said, “These tribunals are expected to offer a platform for businesses to find a resolution for their disputes, including those related to tax refunds, without having to go to High Courts,” he stated.
The minister also said the GST Council which was initially proposed to be held in Madurai could not be taken up due to various commitments. He said the next Council meeting will be held in Madurai as the Finance Minister has given her assent to it.