States lost 60-70 per cent tax revenue in GST regime: Telangana Finance Minister
Hyderabad: States have lost 60-70 per cent of their tax revenues after joining the GST regime while the Centres loss was pegged at 31 per cent only, Telangana Finance Minister Harish Rao who participated in the GST Council meeting said on Thursday.
According to an official release, Telangana demanded that the Group of Ministers headed by the Bihar Deputy Chief Minister Sushil Kumar Modi on the Integrated GST to finalise the modalities and release Telanganas due share of Rs 2700 crore towards IGST.
"All the states have joined the GST as the Centre had assured them that joining the GST will not cause any loss to the revenue of the states. The responsibility for paying GST compensation lies entirely with the Central government.
The States lost 60 to 70 per cent of their revenue after joining the GST regime while the Centre lost only 31 per cent. Therefore, the Centre will have to pay GST compensation to the states," the release quoted Harish Rao as saying.
Telangana is one of the five states that pay the highest GST while it is one of the least compensated states.
The state has paid nearly 19,000 crore to the Centre in the form of GST cess, while it was given back just Rs 3,223 crore, it said.
The policies pursued by the Centre are benefitting states prone to natural disasters and poor fiscal management.
They became disadvantageous to progressive states such as Telangana, the minister said.
Along with Harish Rao, chief secretary Somesh Kumar and other senior officials participated in the meeting
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Rickelton's ton in vain as SRH beat MI by 6 wickets
Mumbai (PTI): Ryan Rickelton's whirlwind unbeaten ton was overshadowed by Heinrich Klaasen's unbeaten 65 as Sunrisers Hyderabad defeated Mumbai Indians by six wickets in an IPL match here on Wednesday.
Chasing an imposing 244-run target, Travis Head (76 off 30) and Abhishek Sharma (45 off 24) shared 129 runs for the opening wicket to set the platform for SRH.
Klaasen (65 not out off 30 balls) then displayed his all-round hitting abilities to guide SRH home with the help of Nitish Kumar Reddy (21) and Salil Arora (30 not out off 10) in 18.4 overs.
Earlier, Rickelton's knock powered MI to 243 for five.
MI rode on a 93-run stand between Rickelton (123 not out off 55 balls) and Will Jacks (46 off 22) in 7.1 overs for the opening stand to power the side.
MI skipper Hardik Pandya scored a valuable 31 off 15 balls before being dismissed.
Praful Hinge (2/54), Eshan Malinga (1/29), Sakib Hasan (1/39) and Nitish Kumar Reddy (1/31) were the wicket-takers for SRH.
Brief Scores:
Mumbai Indian: 243 for 5 in 20 overs (Ryan Rickelton 123 not out; Praful Hinge 2/54).
Sunrisers Hyderabad: 249 for 4 in 18.4 overs (Travis Head 76, Heinrich Klaasen 65 not out; AM Ghazanfar 2/51).
