J'khand CM Soren demands 5 more years of extension for GST compensation

Jharkhand Chief Minister Hemant Soren on Wednesday sought a five-year extension for the Goods and Services Tax (GST) compensation to the state beyond June 2022, claiming that the state was facing a revenue shortfall to the tune of Rs 5,000 crore per annum.

He also hit out at the Centre for allegedly not clearing outstanding dues of Rs 1.36 lakh crore to the state from Coal India Limited.

Soren who became the head of a JMM-led dispensation in 2019 told a press conference here that if he remains the chief minister for 10 years, Jharkhand will no longer be called a backward state.

"We have been facing a severe financial crunch. Our challenges have increased. The state faces a loss of Rs 5,000 crore per annum. We have demanded that the GST compensation period be extended for five years," Soren said.

When a nationwide GST subsumed 17 central and state levies from July 1, 2017, it was decided that states will be compensated for any loss of revenue from the new tax for five years. That ..