Karnataka Chief Minister HD Kumaraswamy on Saturday asked the Centre to extend GST compensation beyond five years, saying that the state will face “severe financial crunch” after the recompense period ends in 2022.
He was speaking at the first meeting of the Governing Council of Niti Aayog chaired by Prime Minister Narendra Modi here.
While implementing the Goods and Services Tax (GST), the Centre had assured the states to compensate them for loss of their revenue for five years till 2022.