GST compensation only till June: PTR

CHENNAI: Tamil Nadu Finance Minister Palanivel Thiaga Rajan on Tuesday said that the Centre has no intention to extend GST compensation beyond June 30. “The Centre, while implementing the GST, announced that states which do not grow at 14 per cent annually will be compensated and the period announced for compensation is five years, which ends by June 30, this year. According to information from the Centre it is clear that disbursal of compensation won’t be extended beyond June 30,” said the Minister. PMK floor leader GK Mani, who moved an urgent calling attention motion, said that there are reports that the union government has decided to increase the GST rate and if GST compensation is not extended beyond June 30, people, who are already facing problem due to the COVID pandemic, will suffer more. “I will write a letter to the union government in a day or two to seek clarifications on speculations around GST compensation,” added the Finance Minister.