Punjab receives Rs. 3670 crores as pending compensation under GST- Harpal Singh Cheema

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

      While elaborating on the matter, the Excise and Taxation Minister Harpal Singh Cheema informed that the period of compensation under GST had ended on 30th of June, 2022, however, the State of Punjab through the Department of Excise and Taxation, Government of Punjab had raised the issue of pending GST compensation with the Government of India. He stated that due to the constant and untiring efforts of the state, the matter has successfully clinched with the Government of India issuing sanction orders for an amount of Rs. 3,670.64 crores to the State as pending compensation for the period July, 2017 to March, 2022 on October 11, 2023.

       Harpal Singh Cheema has expressed his gratitude to the Union Finance Minister as well as thanked the office of CAG and Principal Account Generals of Punjab for the release of the pending compensation amount. He further appreciated the exemplary work of the field and head office officers of the department of Excise and Taxation, Punjab in securing the pending compensation amount.

       Cheema said that the Excise and Taxation department has achieved this under the direct supervision and guidance of Financial Commissioner Taxation Vikas Partap and Commissioner Taxation Arshdeep Singh Thind. He specially mentioned the role of Additional Commissioner (Audit) Ravneet Singh Khurana, and DCFA Harpreet Kaur for the efforts put in.

    The Finance Minister also praised the role of Finance Department officers including Principal Secretary Finance AK Sinha, Secretary Expenditure Mohammad Tayyab, and Special Secretary Finance Yashanjit Singh.