Click it and Unblock the Notifications
Just In
Don't Miss
-
Kerala SSLC Results 2024: Number of Ways you can check the Results -
Former Zimbabwe Cricketer, who slept with crocodile under his bed in 2013, survives leopard attack this time -
President Joe Biden Signs Bill to Ban TikTok in the US: Unless This One Condition is Met -
Heeramandi: Richa Chadha Over The Moon As Rekha Cried And Hugged Her -
BMW i5 M60 xDrive Launched In India At Rs 1.195 Crore - 592bhp, 516km Range -
Gold Prices Ayodhya: In Ram-Janma-Bhumi, 24carat Falls By Rs 380 In 10-Grams, Drops By Rs 3,800 In 100-gram -
Heeramandi Screening: Alia Bhatt, Ananya Panday, Rashmika Mandanna And Others Serve Finest Ethnic Style! -
Escape to Kalimpong, Gangtok, and Darjeeling with IRCTC's Tour Package; Check Itinerary
Centre to fully compensate states for CST loss: Dasgupta
New Delhi, Feb 11 (PTI) The Centre has agreed to fullycompensate states for the losses they suffered due toreduction in central sales tax (CST) estimated at Rs 14,000crore in 2010-11, chairman of Empowered Committee of StateFinance Ministers Asim Dasgupta said today.
The state finance ministers met Union Finance MinisterPranab Mukherjee here to discuss the GST rollout.
"He (Mukherjee) said that he is willing to make fullcompensation for CST loss this fiscal. To begin with it wouldbe an hoc relief to be followed by subsequent measures,"Dasgupta told reporters after the meeting.
Yesterday, the Government had approved Rs 7,029 crorecompensation to states for CST loss in 2010-11. Of this Rs3,000 crore is likely to be released this fiscal.
Once the proposed Goods and Services Tax (GST) is rolledout, other existing indirect taxes, including the CST, wouldbe subsumed into it.
CST, a tax on movement of goods from one state toanother, was reduced from 4 per cent to 3 per cent in 2007-08and further to 2 per cent in 2008-09 after the introduction ofVAT, as it was considered distortionary.
