CHENNAI: The state government on Friday sought the intervention of finance minister Nirmala Sitharaman, also the chairman of the GST council, for early settlement of the outstanding IGST amount due to the state since 2017-18. 

Representing the state at the GST council meet, senior minister D Jayakumar said the net loss to Tamil Nadu from the incorrect dispensation adopted by the Union ministry of finance was estimated at Rs 4,459 crore. “The comptroller and auditor general has pointed out the erroneous treatment… A sum of Rs 386 crore is yet to be compensated for the financial year 2017-18 even after certification by the CAG,” Jayakumar said. 

“If there is further delay in settlement of accumulated IGST, I am constrained to state that TN may have to explore the possibility of seeking adjudication on the issue as per business regulations of the GST council,” Jayakumar said. The state also sought exemption/reduction in rates of tax for 69 goods and services. 

Published On : 21-06-2019

Source : Times of India