PRESS RELEASE FROM COMMERCIAL TAXES, FINANCE DEPARTMENT

Shri B.S Panth Hon’ble Minister for Industries, Tourism and Civil Aviation Government of Sikkim along with Additional Chief Secretary Finance, the Commissioner and officials of the Commercial Taxes, attended the 42nd Goods and Services Tax ( GST) Council meeting chaired by the Union Finance Minister , Smt Nirmala Sitharaman through VC at Tashiling Secretariate on 12.10.2020. The meeting was held to settle the vexed issue of compensation to States on the loss of GST due to COVID 19 and GST implementation and was the third meeting on the issue. While the earlier meeting on 5th October2020 ,had agreed by States on a consensus on  the matter to extend the levy  of GST  Cess on certain items beyond the stipulated period of year 2022, the issue of finalising the  modalities of raising the Cess compensation through borrowings, discussed at length  in the row of meetings ended without consensus.

Source

Commercial Taxes, Finance Department

Government of Sikkim

Dated 13.10.2020

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