Friday, June 23, 2017
The estimated burden of GST on the State government is Rs.2,920 crore said AP Minister for Finance Yanamala Ramakrishnudu.
Addressing a press conference at the Secretariat on Friday, the Finance Minister said that the Central government would compensate for the loss incurred by the States due to the rolling out of GST. The GST will come into force from the midnight of June 30.
He said that the government had been asking the GST Council to exempt fertilizers, tractors, handlooms, granite and cinema tickets from the purview of GST. The Centre did not agree to exemption for the Polavaram works, he said. The GST burden would come down on 115 items. There would not be any change with regard to 180 items while tax on 37 commodities would increase. In service sector, the tax on 14 types of services would come down while there would be an increase in 27 items, he said.