Bihar’s Finance Minister demanded in the GST Council meeting: Provision for payment of compensation should continue in the state for the next five years

Vijay Kumar Chowdhary.

The 49th meeting of the Goods and Services Tax Council (GST Council) was held under the chairmanship of Union Finance Minister Nirmala Sitharaman at Vigyan Bhavan in New Delhi on Saturday. Participating in this meeting, Finance and Commercial Taxes Minister of Bihar, Vijay Kumar Chaudhary demanded to continue the provision of compensation payment for the next 5 years. He said that the new tax system in the state has not yet become stable and strong and the economy has also not been completely free from the effects of Corona.

Apart from this, Chaudhary demanded to make a provision to have a member in the State Level Goods and Services Tax Tribunal (GST Tribunal) on the basis of nomination/recommendation by the State Government, saying that without such a provision, this tribunal would not work. There will be no justification left. Along with this, he also raised the issue of liberalizing the existing penal provision in case of delay in tax payment.