Give us CST Compensation - Jaya
MADAM Chief Minister also wanted the Prime minister to clear the CST dues.
As part of the road map for the implementation of GST, the Central Sales Tax (CST) rate was reduced from 4% to 3% with effect from 1.4.2007 and further brought down to 2% with effect from 1.6.2008. The Government of India agreed to implement various non revenue measures and direct release of funds to compensate the States for the revenue losses. The Government of Tamil Nadu has been submitting its compensation claims regularly but has not received the promised compensation in full. As against the State Government's claim of Rs.9676.46 crores for the period from 01.04.2007 to 31.03.2012, a sum of Rs.2636.50 crores alone has been released by GOI. A sum of Rs.7039.96 crores has to be reimbursed from GOI for pending compensation for the period up to 31.03.2012.
This is one of the reasons why the States are not supporting the GST.