&imwidth=800&imheight=600&format=webp&quality=medium "GST Council Meeting: What is Opposition's stand on Centre's proposed GST reforms?")
Ahead of the crucial GST Council meeting, the finance ministers of eight opposition-ruled states met on Wednesday morning and formed a strategy over the Centre's plan to rationalise GST rates. The ministers of Himachal Pradesh, Jharkhand, Karnataka, Kerala, Punjab, Tamil Nadu, Telangana and West Bengal participatedin the huddle and later expressed concerns over the expected loss of revenue if the GST Council approves the Central government's proposal.
Here's what the Opposition says on GST reforms
Most states supported the Centre's proposal. However, they said that they will not approve the proposal in the GST Council meeting until the government clarifies how it plans to offset the revenue loss.
The National Democratic Alliance’s (NDA’s) key ally, TDP, which rules in Andhra Pradesh, supported the proposal.
Jharkhand’s Finance Minister Radha Krishana Kishore, however, said his state stands to lose Rs 2000 crore annually if theproposal is approved.
"Loss hoga state ko, woh compensation central government de toh phir unko agenda ko approve karenge otherwise nahi karenge (States will face revenue loss and the central government needs to compensate for revenue loss. And if they assure compensation, we will approve the proposal, otherwise not)," he was quoted as saying by The Indian Express.
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Himachal Pradesh’s Minister for Technical Education, Rajesh Dharmani, said he would wait and watch the Centre's next move during the meeting.
The 56th meeting of the GST Council began today. Union Finance Minister Nirmala Sitharaman and ministers from 31 states and Union Territories attended the meeting, where the main agenda was a discussion on the Centre's GST rationalisation plan.
The Opposition-ruled states met on Friday, where they said the loss of revenue would be between Rs 85,000 crore and Rs 2 lakh crore per annum. They demanded that the Centre compensate the states for revenue loss.
The Central government has proposed to eliminate the 12 per cent and 28 per cent GST slabs and place most of the items in these categories in 5 per cent and 18 per cent slabs.