Harish Rao seeks release of IGST, BGRF

Hyderabad: Finance Minister T Harish Rao has submitted a memorandum to Union Finance Minister Nirmala Sitharaman requesting to release pending IGST (Integrated Goods and Service Tax) and also BGRF (Backward Region Grant Fund) to the State.

He brought to the notice of Nirmala, who is also the GST Council Chairman, the pending settlement of the IGST amount which was transferred to the Consolidate fund of India in March 2019. The State is entitled to receive Rs 210 crore. Harish, along with the State Finance officials attended the 25th GST Council meeting in Lucknow.

Harish informed the Union minister to release of Rs 450 crore BGRF amount. As per the State Reorganisation Act, the Centre has assured release of Rs 50 crore to each district for development. He also requested the GST Council to abolish RCM (Reverse Charge Mechanism) on cotton.

The council was requested to discuss other cotton growing States like Maharashtra and Gujarat and address the concerns. The officials made a presentation on the State revenues. Special Chief Secretary (Finance) Ramakrishna Rao was present.