Queency Jain –
The Karnataka Government has asked the GST Council to release the pending compensation of Rs 11,000 crore to the State for the financial year 2020-2021.
The Office of Home Minister Basavaraj Bommai, representing the State in the GST Council, released a statement requesting to extend loan facility for compensation to the states to 2020-2021 fiscal.
The statement comes after Bommai met Union Minister Nirmala Sitharaman and discussed the demand of GST compensation to be extended beyond the year 2022.
Bommai further asked to include goods like oxygen concentrators, PPE kits, Black fungus drug to be included in the list of concessional drugs.
In conclusion he requested to bring down taxes on Covid related goods from 12 percent to 5 percent till 31 August.