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GST: AP seeks base year revenue change
Finance minister Yanamala Ramakrishnudu on Sunday wrote to Union finance minister Arun Jaitely requesting to consider revising the base year (2015-16) revenue and sanction compensation to the state of Andhra Pradesh.
Amaravati: Finance minister Yanamala Ramakrishnudu on Sunday wrote to Union finance minister Arun Jaitely requesting to consider revising the base year (2015-16) revenue and sanction compensation to the state of Andhra Pradesh.
In his letter Yanamala said Union government has been transferring compensation amount to the state which did not get projected revenues as per the GST Act 2017 and the AP got Rs 382 crore towards compensation so far. He said the state will have to get higher compensation amount.
Yanamala said as the Centre fixed the base year revenue of Rs 13,449.62 crore for 2015-16 for AP for purpose of compensation under GST compensation Act. “The base year revenue of year 2015-16 for AP is required to be modified as certain amounts mentioned under the subsumed taxes are not correctly reflected,” he said.
