Bengal may lose at least Rs 1,200 crore as cess after the country switches over to the GST (goods and services tax) regime. The components include cess on coal, primary education and rural development, which are likely to be subsumed in the one-tax regime, but will exclude the state’s cess on petroleum that has been kept out of the GST net. State finance department officials are now busy calculating the loss on account of cess and the probable “gains“ under the new tax regime for Bengal, a consuming state which is expected to benefit from the switch.
State finance minister Amit Mitra, also the chairperson of the empowered com mittee of finance ministers for GST, is in constant touch with his colleagues across states to work out the compensation package for states before the GST Council finalises the provisions of the GST Bill.“This is perhaps the most difficult part of the GST exercise,“ a state official said.
amar ujala newspaper 24/08/2016 : http://epaper.amarujala.com/