• Notification Date: 08.02.2022
• Notification No: N/A

CM of Karnataka appeals to the Centre to extend GST Compensation Period

The Chief Minister of Karnataka, Basavaraj Bommai has requested the Central government last Monday to extend the GST compensation period till 2024-25. He requested to Union Finance Minister Nirmala Sitharaman that the states are facing a deficit in resources in the post-pandemic situation. Hence, there is an urgent necessity for the government to extend the GST compensation period from March 2022 to 2024-25. This would help the states to resolve their resource crunches. GST compensations were being provided by the Union government through loans in the last couple of years. Bommai requested to extend this facility for three more years. The loans should be payable by the collection of GST Cess.

The Chief Minister of Karnataka has held a meeting along with the other MPs of the state. Nirmala Sitharaman attended the meeting along with Parliamentary Affairs Minister Pralhad Joshi. Other significant personalities like Union Minister A. Narayanaswamy, Bhagwanth Khuba and Rajeev Chandrasekhar were also present in the meeting.