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Purchase Tax and GST in India
This post is about the revenue loss of states in India when Goods and Service Tax (GST) is introduced. Will there be a revenue loss to some of the states strong in cultivation of food grains?
Some of the States felt that they are getting substantial revenue from Purchase Tax and, therefore, it should not be subsumed under GST while majority of the States were of the view that no such exemptions should be given. The difficulties of the food grain producing States was appreciated as substantial revenue is being earned by them from Purchase Tax and it was, therefore, felt that in case Purchase Tax has to be subsumed then adequate and continuing compensation has to be provided to such States. This issue is being discussed in consultation with the Government of India.
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