Odisha claims Rs 2,908.82 Crore CST loss compensation

The Odisha government on Tuesday urged the Central government to compensate Odisha for Central Sales Tax (CST) loss of Rs 2,908.82 crore for financial years 2012-13 to 2014-15.

Government of India may release CST Compensation for the year 2012-13 by the end of September’2016. Further the committee may review for CST Compensation to the States for the year 2013-2014 onwards.

The Government of Odisha have claimed Rs.2755.36 crore towards CST Compensation for the loss on account of CST reduction from 2007-08 to 2011-12 but received Rs. 2201.40 crore for the said period.

The representatives of Odisha Government Mr. R. Balkrishnan, Additional Chief Secretary (Finance) And Mr. Saswat Mishra, Commissioner of Commercial Taxes.state raised the issue while participating in the Empowered Committee of State Finance Ministers on Goods and Services Tax (GST) held in Kolkata on Tuesday.