The state Finance Minister suggested that a mechanism should be worked out so that the states are also benefited.
After implementation of GST, the UT of Puducherry is suffering revenue loss due to structural issues in GST viz., destination principle.
Hence, Andhra Pradesh requires additional funds in the form of GST compensation, he said, while participating in the 45th GST Council meeting held in Lucknow on Friday.
Pawar, who holds charge of Maharashtra's finance department, told reporters here that said the Centre was free to levy taxes, but 'what is under the state's jurisdiction should not be touched'.
Nirmala Sitharaman to consider Telangana Finance Minister T Harish Rao’s request to raise borrowing limit
Harish Rao said that the State was facing financial problems due to the lockdown and they did not know for how long the lockdown would continue.
While GST on Tocilizumab and Amphotericin B is slashed to nil from 5 per cent, the rate on Remdesivir and anti-coagulants like Heparin is lowered from 12 percent to 5 percent.
The Congress party- and other Opposition-ruled states have been demanding a reduction in taxes but the central government felt the move may not result in tangible gains for people.
With regard to the issue of compensation payable to states, the centre has estimated the shortfall at Rs 2.69 lakh crore.
Despite multiple state government requests, sources say meet unlikely before end of May
Union finance minister Arun Jaitley after chairing the 22nd GST council meet of Friday announced a slew of reforms including change in GST rates of several items.
The minister addressing a press conference after the 22nd GST council meet announced a slew of reforms.