If the Goods and Services Tax (GST) Constitutional Amendment Bill is passed in the Parliament “in its current form” Bengal stands to lose rupees 8,200 crore in revenues in the first year, said State’s Finance Minister, Amit Mitra. "The chairman of the empowered committee had told me that the draft bill would be discussed in the committee before submission to the Cabinet. But to our surprise it was cleared by the Cabinet on Wednesday undermining the empowered committee and the federal structure," Mr .Mitra said.
However, the All India Trinanamool Congress (AITC) has considerably softened its position regarding the draft Bill over last few weeks. The party now “supports” the GST if the States are “adequately compensated,” according to a release issued on Friday night. The Bill is expected to be introduced in Parliament on Monday.
On Friday Trinamool MP and Chief Whip in Rajya Sabha Derek O'Brien reiterated: "We are not against GST, all we ask for is adequate compensation for States." MP Saugata Roy echoed the same sentiment in Lok Sabha.
