MUMBAI: Chief minister Devendra Fadnavis has demanded compensation of Rs 14,000 crore over the estimated loss of revenue after the implementation of the Goods and Services Tax (GST) bill.
Fadnavis said at the Inter-State Council Meeting in Delhi that the state is expected to lose revenue if the GST bill is passed and the Centre should compensate the state for a period of five years.
Fadnavis also demanded levying an additional one per cent more GST in states with a flourishing manufacturing sector to compensate for the losses.
Fadnavis said that his government was not in favour of Justice M M Punchhi Committee recommendations of uniform number of representation of states in the Rajya Sabha.
The Punchhi Commission was formed to look into contemporary issues of Centre-State relations keeping in view the changes that have been taken place in the polity and economy of the country.
-source- http://timesofindia.indiatimes. com/city/mumbai/GST-Fadnavis-seeks-14000-cr-compesation/articleshow/53243570.cms