Hyderabad: The Telangana government is soon to decide on the proposals put before the states by the central government for the payment of GST compensation. Yes, in the high-level meeting to be held today or on Monday, under the chairmanship of Chief Minister K Chandrasekhar Rao, the final decision has been made. Yes, the Central Government is working with one country and one tax policy to implement GST from the year 2017. At the same time, except petrol and liquor, the Center thought it appropriate to bring almost everything within the GST perimeter. By this way, the state governments have been told about the huge loss.

Let us tell you that the central government has agreed to compensate the states for the loss for five years. By the way, you must be aware that every year and by adding 14 per cent more in the income of last year's GST, set a 'benchmark'. At the same time, if the revenue is less than that amount, then the central government starts paying the deficit to the states in the name of GST compensation. At the same time, the impact of the outbreak of Corona epidemic has been found on GST revenue. At the same time, you must have seen that there has been a sharp decline in revenue and due to this the state governments are working to put a lot of pressure on the Center on the issue of compensation.

In the past, there was a meeting of the 41st Council and in this meeting, the Central Government had made two proposals before the states on the GST compensation issue. Among these, the first proposal is a cost expenditure of Rs 97,000 crore and the second proposal was, 2.37 lakh crore loss due to Corona will be collected by debt to GST. Now there are reports that the Telangana government is about to announce its decision.

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