PNS n Vijayawada
State Finance Minister Buggana Rajendranath has said that the Central government has decided to pay GST arrears to the State till June. He said that Rs 689 crore should be paid to Andhra Pradesh under GST compensation.
The FM has expressed happiness over reducing the penalties imposed on small business enterprises and considering the State’s suggestions in setting up the Appellate Tribunal.
He said that the GST Council has agreed to revise the penalties levied for late filing of returns by companies with a business volume of Rs 20 crore as suggested by the state.
Also, the Council approved the recommendations of the Ministers’ committee for the amendments to be made to the Appellate Tribunals. The Minister attended the 49th GST Council meeting in Delhi’s Vigyan Bhawan on Saturday under the chairmanship of Union Finance Minister Nirmala Sitharaman.
The FM who is a member of the Ministers’ committee said that the council has agreed to set up the tribunals in addition to giving responsibility to the chief secretary of the state in the tribunals.
Earlier, the 48th GST Council meeting was held in December through video conference, so the council focused more on the previous issues. Union Minister Sitharaman stated that there is still Rs 16,982 crore due to all the states and that the dues up to May 31 of last year have already been paid, said the FM.
He said that the council has decided to reduce GST on stationery like pencils and rubber from 18 to 12 percent. The Center will clear the total compensation Cess arrears of the states under the GST Compensation Act, 2017.
GST Council Conference State Finance Secretary N Gulzar (Income Tax), Chief Commissioner of State Revenue Department M Girija Shankar, and others were present.
