Punjab government receives Rs 3,670.64 crore as pending compensation under GST

On Wednesday, Harpal Singh Cheema (Minister of Punjab Finance, Excise, and Taxation) said that the government has received Rs 3,670.64 crore as pending compensation under the Goods and Services Tax (GST) from the Government of India for the July 2017 to March 2022 period.

Cheema said that the era of compensation under GST had ended on June 30, 2022, moreover, Punjab had raised the issue of pending GST compensation with the Centre through its excise and taxation department. He added that due to the efforts by the state, the Centre issued sanction orders for Rs 3,670.64 crore.

Cheema expressed his gratefulness to Nirmala Sitharaman (Union Finance Minister) and thanked the office of the Comptroller and Auditor General of India CAG and Principal Accountant General of Punjab for the release of the pending compensation amount. He also appreciated the work of the field and officers of the excise and taxation department.

Cheema added that the excise and taxation department has achieved this under the direct supervision and guidance of Vikas Pratap (Financial Commissioner, Taxation) and Arshdeep Singh Thind (Taxation Commissioner). He also mentioned the role of Additional Commissioner (Audit) Ravneet Singh Khurana and DCFA Harpreet Kaur.

The finance minister also appreciated officers of the finance department, including A K Sinha (Principal Secretary, Finance), Mohammad Tayyab (Secretary, Expenditure) and Yashanjit Singh (Special Secretary, Finance)