5 months ago
GST relief may hit state finances
Deccan ChronicleHyderabad: The GST Council’s decision to provide relief to taxpayers in Telangana could have serious consequences for state finances. The most hard-hitting decision taken at the 53rd meeting of the Council was the relief extended to taxpayers for the financial years 2017-18 to 2019-20 waving interest and penalty on tax demands under Section 73. This step will benefit tax payers in Telangana, particularly those who are in the state GST jurisdiction because 100s of notices were issued for 2017-18 to 2019-20 by the state GST department. Sources in the commercial tax department say that some of these decisions will lead to the loss of tax arrears and those who have paid tax may also seek refund, which could be detrimental for state finances.
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History of this topic
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