After passing the Karnataka Goods and Services Tax Amendment Bill, 2018, the Chief Minister, H D Kumaraswamy opined that the State will receive a comparatively low revenue from the GST Compensation Cess.
According to him, the State had received a sum of 7,500 crores during the financial year, 2017-18. This would become lower in the current year, 2018-19, he opined while replying to the questions raised by opposition members during the discussion on the amendment bill.
“After receiving GST compensation of Rs 7,500 crore from the centre in 2017-18. This year it may be less….,” Kumaraswamy said.
The Chief Minister, however, did not give any figure or cite any reason for the projected decrease in GST compensation from the Centre.
Pointing out there were several loopholes in the GST, they advised the government to take up the issues with the centre and fix the leakage.
Noting that state government had limited powers with respect to GST, Kumaraswamy said, “we will find the loopholes and fix them. We will take all necessary steps to check leakage.”
The new GST amendment bill aims at implementing the new return filling system and also to overcome the difficulties of filling return and payment of tax under the GST Act on the lines recommended by the Goods and Services Tax Council.
Along with the GST Bill, the assembly also passed the Karnataka Transparency in Public Procurements (Amendment) Bill, 2018, seeking to amend the parent act of 1999 to set up and maintain a public e-portal.
