Shimla: The 57th meeting of the GST Council was held under the Chairmanship of the Union Finance Minister Nirmala Sitharaman at Bharat Mandapam, New Delhi. The Government of Himachal Pradesh welcomed the reforms proposed by the GST Council aimed at making the tax system more taxpayer-friendly and simplifying compliances.
The State also welcomed the proposals providing relief to small taxpayers and the measures relating to defence and CSD Canteens. The State-specific issue concerning the leasing of the right to collect toll was also deliberated upon, and the proposed GST exemption relating to the State’s toll collection mechanism was welcomed.
The State also raised the issue of full compensation for revenue implications arising from GST implementation, with a view to safeguarding the fiscal stability. It was reiterated that State revenues be protected by ensuring 14% year-on-year growth for five years and, thereafter, revenue protection should continue until the actual revenue of the State reaches the level of protected revenue determined for the fifth year.