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The Finance Ministry on Wednesday stated the Centre has already launched eight months of GST compensation dues to the states for the fiscal ended March 2022 and Rs 78,704 crore is pending as a result of insufficient steadiness within the cess fund.
On the day the prime minister exhorted states to chop the VAT charge on petrol and diesel, the Finance Ministry introduced that the Centre owes Rs 78,704 crore to the states, Chidambaram stated.
“The quantity owed is definitely extra. In case you add the quantities that the states declare are owed to them, the whole quantity could also be greater. Solely the Controller of Authorities Accounts (CGA) can certify the correct quantity,” the previous finance minister stated on Twitter.
“Will probably be fascinating to know why the MoF embarrassed the PM on the day he selected to admonish the States!” he stated.
Flagging greater gasoline costs in lots of opposition-ruled states, Prime Minister Modi on Wednesday referred to as it “injustice” to folks dwelling there and urged the governments there to cut back VAT in “nationwide curiosity” to profit the frequent man. Modi raised the difficulty of many states not adhering to the Centre’s name for decreasing the Worth Added Tax (VAT) on petrol and diesel after his authorities slashed excise duties on them in November final, and requested them to work within the spirit of cooperative federalism on this time of worldwide disaster.
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