Ranchi: In the 48th meeting of the GST Council, Jharkhand has sought Rs 1,268 crore from the Centre. Jharkhand’s Finance Minister Dr Rameshwar Oraon demanded payment of the arrears of the compensation item on behalf of the state in the council meeting chaired by Union Finance Minister Nirmala Sitharaman.
He said that till June of the financial year 2022-23, the state owes Rs 1268.94 crore to the Center towards compensation. The center should pay the outstanding amount as soon as possible so that the schemes run by the state government can be implemented. In the meeting, it was said on behalf of the Jharkhand government that due to multiple tax rates on textiles and readymade, there is a problem in tax management.
Due to 5 percent tax on less than 1000 and 12 percent tax on more than 1000, many anomalies are arising. That is why a single tax rate should be fixed on a single commodity. Apart from this, the issue of the formation of the GST Tribunal in Jharkhand also came up. Jharkhand said that in GST cases, writs are being filed directly in the High Court after the Appellate Court, so a tribunal should be constituted soon.
It was also said on behalf of the Jharkhand government that Jharkhand is a manufacturing state, due to which the revenue receipt of the state is decreasing. Therefore, in view of Covid, the compensation should be extended further for 5 years. Finance ministers of all the states across the country participated in the meeting. Finance Minister Rameshwar Oraon took a virtual part in the meeting.