{"id":36149,"date":"2022-04-14T17:13:15","date_gmt":"2022-04-14T11:43:15","guid":{"rendered":"https:\/\/tradebrains.in\/features\/cg-cm-gst-compensation\/"},"modified":"2022-04-14T17:13:15","modified_gmt":"2022-04-14T11:43:15","slug":"cg-cm-gst-compensation","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/cg-cm-gst-compensation\/","title":{"rendered":"Chhattisgarh CM seeks GST compensation for ten more years"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1457252791\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Raipur, Apr 14 (PTI) Chhattisgarh Chief Minister Bhupesh Baghel has written to Prime Minister Narendra Modi seeking extension of the compensation mechanism under the Goods and Services Tax (GST) regime for another ten years.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1225689756\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>In a letter written to Modi on Thursday, Baghel also said the Union government should come up with some arrangement to make up for the revenue shortfall which manufacturing states are facing.<\/p>\n<p>The Union government had committed to compensate states for any revenue loss on account of the transition to GST, which was rolled out on July 1, 2017, for a period of five years.<\/p>\n<p>\u201cThe Union government&#8217;s move to stop the compensation given to states under the GST after June 2022 will cause a huge loss of revenue to manufacturing states like Chhattisgarh. The contribution of such states in the economy of the country is comparatively more than that of the states which benefitted under GST system by consuming goods and services,\u201d the letter said.<\/p><div class=\"trade-content_5\" id=\"trade-1265121050\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>\u201cIf GST compensation is not continued beyond June 2022, then Chhattisgarh is expected to face revenue loss of Rs 5,000 crore approximately (in the next financial year). Similarly, other states would also have reduced revenue receipts in the next financial year. It would become very difficult to arrange for (make up for) shortfall in funds for public welfare and development works,&#8221; Baghel added.<\/p>\n<p>After the GST was rolled out, states have less powers to levy taxes, the chief minister noted.<\/p>\n<p>\u201cAlthough every effort is being made by the state to generate revenue,  at least the present compensation grant system should be continued for next 10 years,\u201d he added.  PTI TKP  KRK   KRK<\/p>\n<div class=\"trade-after-content\" id=\"trade-2115107271\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Raipur, Apr 14 (PTI) Chhattisgarh Chief Minister Bhupesh Baghel has written to Prime Minister Narendra Modi seeking extension of the compensation mechanism under the Goods and Services Tax (GST) regime for another ten years. In a letter written to Modi on Thursday, Baghel also said the Union government should come up with some arrangement to [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-36149","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chhattisgarh CM seeks GST compensation for ten more years - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/cg-cm-gst-compensation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chhattisgarh CM seeks GST compensation for ten more years\" \/>\n<meta property=\"og:description\" content=\"Raipur, Apr 14 (PTI) Chhattisgarh Chief Minister Bhupesh Baghel has written to Prime Minister Narendra Modi seeking extension of the compensation mechanism under the Goods and Services Tax (GST) regime for another ten years. 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