Centre Agrees To Release Central Sales Tax Amount To AP and TS

ramaThe Union Finance Minister Arun Jaitley assured the Finance Minister of AP Y. Ramakrishnudu to release the pending Central Sales Tax compensation for the year 2010-11.

With the above assurance AP is set to get 7,000 crore and Telangana would get 6, 000 crore.

The first installment would be released by February and the balance after the presentation of Union Budget.

The information was provided by Mr. Ramakrishnudu, Finance Minister of AP. He had met Union Finance Minister Arun Jaitley demanding release of the amount.

He also said that Union finance minister has promised to comply with the AP Reorganisation Act. By which AP would get 16, 000 crore as revenue deficit.

The Union Finance Minister also promised to look into the matter of granting special category status to AP and grant of various incentives promised in the reorganization act.

“We are pursuing the issue with different departments at the Centre. We are hopeful that something will come through soon,” the state finance minister said.

The state finance minister also said that the centre has promised to compensate the loss due to the proposed Goods and Services Tax, which would come into effect from 2016.

Medaram Jathara

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