GST compensation loan of ₹18,109 crore approved for Karnataka

The 44th GST Council on Saturday approved a Goods and Services Tax compensation loan of ₹18,109 crore for 2021-22 to Karnataka.

The State government welcomed the GST Council’s decisions to reduce the tax rates on specified items that are being used in COVID-19 relief and management till September 30, 2021.

Minister for Home and Parliamentary Affairs Basavaraj Bommai participated in the Council meeting, held virtually, and sought a meeting to discuss GST compensation-related issues beyond 2022. He also thanked Union Finance Minister Nirmala Sitharaman for approving the GST compensation loan and said the funds would help in the State’s efforts to fight the pandemic.

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Printable version | May 27, 2022 2:49:31 am | https://www.thehindu.com/news/national/karnataka/gst-compensation-loan-of-18109-crore-approved-for-karnataka/article34800994.ece