Finance Ministry ’embarrassed’ PM by putting out GST dues on day he admonished states:

 








Senior Congress leader P Chidambaram on Thursday took a dig at the Centre over the Rs 78,704 crore it owes to the states in GST compensation, saying it would be interesting to know why the Finance Ministry “embarrassed” Prime Minister Narendra Modi by putting out the information on the day he chose to “admonish” the states.


The Finance Ministry on Wednesday said the Centre has already released eight months of GST compensation dues to the states for the fiscal ended March 2022 and Rs 78,704 crore is pending due to inadequate balance in the cess fund.

On the day the prime minister exhorted states to cut the VAT rate on petrol and diesel, the Finance Ministry announced that the Centre owes Rs 78,704 crore to the states, Chidambaram said.

Senior Congress leader P Chidambaram on Thursday took a dig at the Centre over the Rs 78,704 crore it owes to the states in GST compensation, saying it would be interesting to know why the Finance Ministry “embarrassed” Prime Minister Narendra Modi by putting out the information on the day he chose to “admonish” the states.




The Finance Ministry on Wednesday said the Centre has already released eight months of GST compensation dues to the states for the fiscal ended March 2022 and Rs 78,704 crore is pending due to inadequate balance in the cess fund.

On the day the prime minister exhorted states to cut the VAT rate on petrol and diesel, the Finance Ministry announced that the Centre owes Rs 78,704 crore to the states, Chidambaram said.

The amount owed is actually more. If you add the amounts that the states claim are owed to them, the total amount may be bigger. Only the Controller of Government Accounts (CGA) can certify the correct amount,” the former finance minister said on Twitter.

It will be interesting to know why the MoF embarrassed the PM on the day he chose to admonish the States!” he said.


Flagging higher fuel prices in many opposition-ruled states, Prime Minister Modi on Wednesday called it “injustice” to people living there and urged the governments there to reduce VAT in “national interest” to benefit the common man. Modi raised the issue of many states not adhering to the Centre’s call for reducing the Value
Added Tax (VAT) on petrol and diesel after his government slashed excise duties on them in November last, and asked them to work in the spirit of cooperative federalism in this time of global crisis.
Source:https://indianexpress.com/article/india/finmin-embarrassed-pm-by-putting-out-gst-dues-on-day-he-admonished-states-chidambaram-7891045/




Download our App to get knowledge updates: https://play.google.com
/store/apps/details?id=com.app.gstmitra




Join Our Telegram Channel for more updates:https://t.me/praveengst:








Comments

Post a Comment

Popular posts from this blog

Centre appeals against ruling on levy of GST on maintenance charges to resident welfare associations

Image
  The Centre has preferred a writ appeal before the Madras High Court against a single judge's order that flat or villa owners paying more than ₹7,500 a month towards maintenance charges to their residents’ welfare associations must pay Goods and Services Tax (GST) at the rate of 18% only for the amount exceeding ₹7,500 and not for the entire monthly contribution. Justices T.S. Sivagnanam and Sathi Kumar Sukumara Kurup on Wednesday allowed an application filed by the Centre to dispense with production of a certified copy of the judgment passed by Justice Anita Sumanth recently and directed the Registry to list the appeal for admission in the usual course. Justice Sumanth had in July this year quashed an order passed by the Authority for Advance Ruling (AAR) on June 21, 2019 as well as a consequent circular issued by the Department of Revenue under the Union Finance Ministry on July 22, 2019 since both of them had insisted upon collecting GST for entire monthly contribution. The jud...
Read more

Seven key things to know before filing income tax return (ITR) for FY21

Image
  The last date to file income tax return for the financial year 2020-21 has been extended to September 30, 2021. Although there is more than two months left for the deadline to end, it is always recommended to complete the task as soon as possible and not to wait for the last minute. Worth mentioning here is that the income tax department last month launched a new e-filing portal (www.incometax.gov.in) to speed up the processing of tax returns. The I-T department will soon launch a mobile application, having all the features of the new portal. This year taxpayers have to take care of the following changes in the ITR filing process. 1) A new utility named JSON has been launched for filing tax return forms for FY21. At present, only three forms, ITR 1, 2 and 4 have been released. These new forms will import pre-fill data such as personal details, salary income, dividend income, interest income, capital gains and all the information available in Form 26AS. 2) Taxpayers will have the ...
Read more

Income Tax Dept detects ₹350 cr unaccounted cash receipts after raid in Rajkot

Image
  The Income Tax Department carried out a search and seizure operation on a real estate group based in Gujarat's Rajkot and found unaccounted cash receipts in various projects of approximately ₹350 crore, the Finance Ministry said on Friday. The group is among Gujarat’s prominent real estate builders and developers and is actively engaged in real estate, construction and land trading businesses in and around Rajkot. More than 40 premises were covered in the search operation. During the course of operation, many incriminating documents and digital evidences were seized indicating involvement of the group in unaccounted transactions. The IT sleuths found substantial evidence of transactions outside the regular books of accounts, unaccounted cash expenses, cash advances received and interest paid in cash. Evidence of on-money payments in real estate projects-flats, shops and land deals has also been found. Total unaccounted cash receipts in various projects of approximately ₹350 crore...
Read more