Chandigarh, Aug. 21 -- Punjab Finance Minister Advocate Harpal Singh Cheema has called for the immediate release of Rs. 50,000 crore in GST compensation from the Central Government to address the state's financial losses since the tax's implementation in 2017.
Speaking after a two-day meeting of the GST Ministerial Group on health, insurance, rate rationalization, and compensation cess, Cheema highlighted that Punjab has incurred a total loss of Rs. 1,11,045 crore due to GST.
Cheema noted that while the state has received approximately Rs. 60,000 crore as compensation, a significant Rs. 50,000 crore remains unpaid. He criticized the Central Government for discontinuing the five-year compensation package promised to states to offset GST-r...