Continue GST compensation regime till June 2024: TN urges Centretext_fields
Addressing the Tamil Nadu Assembly on Wednesday, Tamil Nadu Governor RN Ravi said that the Tamil Nadu government wants the Goods and Services Tax (GST) compensation regime, which is coming to an end on June 6, to be extended by two more years.
"After the introduction of GST, the state was not able to realise the high growth of tax collections that it had witnessed during the VAT (value added tax) regime. The Covid pandemic has further exacerbated this problem," he said.
The state's revenues are yet to recover. If compensation is not extended for at least two more years, it would adversely impact the state finances, he said.
"Therefore, this Government strongly urges the GST Council and the Union Finance Ministry to continue the GST compensation at least till 30.06.2024," Ravin said.