JPCC chief-cum-State Finance Minister Dr Rameshwar Oraon on Thursday said the Central Government should pay the outstanding amount of Rs 1,561 crore as GST compensation in the financial year 2020-21 without any delay.
He said this demand will be put forward in the meeting of GST Council to be held on Friday, under the chairmanship of Union Finance Minister Dr Nirmala Sitharaman. Oraon has said the Centre should pay the Rs 1,561 crore GST compensation to Jharkhand from 31 May 2020 to 1 June 2021 without delay.
He added at time of implementation of the GST system in the country, a provision was made to give compensation to the States for five years through the law.
The period ends in June 2022. While implementing the GST on behalf of the Central Government, it was assured that the commercial tax collection will be stabilised in these rains, but due to the continuous Covid-19 epidemic of about one and a half years, the situation has worsened, therefore by extending the provision of compensation for five years from to June 2017 the Central Government make arrangements to implement it, he added.