Hyderabad: Recently Telangana Finance Minister Harish Rao talked about the GST system. He says that the goods and services tax (GST) system has caused a tax revenue loss of 60 to 70 percent to the states. He also said that the loss of the centre during this period has been only 31 percent. Finance Minister Harish Rao attended the meeting of GST Council on Thursday. During this, he spoke many things. Meanwhile, in an official statement, Telangana demanded the finalization of procedures from the GoM headed by Bihar Deputy Chief Minister Sushil Kumar Modi on integrated GST.
He also demanded that Telangana's unified GST dues of Rs 2,700 crore should be released. Meanwhile, Finance Minister Harish Rao said that all the states had joined the GST system because the Central Government had assured no loss in the revenue of the states. According to him, the responsibility of paying GST compensation rests with the central government. In the statement given, Finance Minister Harish Rao was also quoted as saying that due to the GST system, the revenue of the states has come down by 60 to 70 percent while the revenue of the central government has decreased by only 31 percent.
'Now the central government will have to pay GST compensation.' Indeed, Telangana is one of the top five highest GST paying states in the country. Not only this, this state also gets the lowest compensation. According to the information received, the state paid Rs 19,000 crore as GST cess to the Center, while it could get only Rs 3,223 crore out of it.
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