TN Govt calls for consensus by Centre on GST

Chennai

Delivering his customary address to the State Assembly, he said the state Government's views on the implementation of GST remain consistent.

"It has been reiterated time and again that before the Constitutional Amendment Bill on GST is taken up, the Union Government should strive for a broad consensus on critical aspects like compensation period and methodology, revenue neutral rates, floor rates with bands, commodities to be excluded from GST, the IGST model and clarity on dual administrative control and ensure that the genuine apprehensions of the States regarding loss of fiscal autonomy and permanent revenue loss are allayed", he added.

He said the unfair treatment meted out to Tamil Nadu in the 14th Finance Commission's recommendations, with a drastic cut in the horizontal share, has severely dented the State finances.

"In addition, the prolonged economic slowdown, the reduced realization of tax on petroleum products due to drastic fall in international crude oil prices and the revised sharing pattern of Centrally Sponsored Schemes have also added to the financial burden of the State'', he added.

"Nevertheless, committed to the vision of our Chief Minister of achieving the Numero Uno status for Tamil Nadu in terms of development and economic prosperity, the State Government has been steadfast in implementing all the welfare schemes and development programmes", Dr Rosaiah said.