GST: Andhra To Suffer Rs.4,700 Cr Loss Every Year

[EarbiteNews]

Andhra Pradesh will suffer a loss of Rs 4,700 crore every year on account of implementation of Goods and Services (GST) tax, state Finance Minister Y. Ramakrishnudu said on Thursday.

He said the central government should compensate the state to the tune of Rs 23,500 crore for five years, adding it was the central government’s responsibility to ensure that injustice was not done to states due to the GST.

Ramakrishnudu however welcomed the passage of constitutional amendment bill in Rajya Sabha. He said the Telugu Desam Party (TDP) and all other parties supported the bill in the larger interest of the country...See more http://www.earbitenews.com/2016/08/05/gst-andhra-to-suffer-rs-4700-cr-loss-every-year/

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