• Home
  • CONTACT US
  • e-paper
    • E-Paper (2018)
    • E-Paper (2019)
    • E-Paper (2020)
    • E-Paper (2021)
    • e-paper 2022
    • e-paper 2023
    • e-paper 2024
    • e-paper 2025
  • Top Stories
  • Punjab
  • Coronavirus
  • Nation
  • Chandigarh
  • World
  • Sports
  • Entertainment
  • e-paper 2023
  • e-paper 2024
  • e-paper 2025
Saturday, May 10, 2025
  • Login
  • Home
  • CONTACT US
  • e-paper
    • E-Paper (2018)
    • E-Paper (2019)
    • E-Paper (2020)
    • E-Paper (2021)
    • e-paper 2022
    • e-paper 2023
    • e-paper 2024
    • e-paper 2025
  • Top Stories
  • Punjab
  • Coronavirus
  • Nation
  • Chandigarh
  • World
  • Sports
  • Entertainment
    • All
    • Sports
    A Rajkumar, An Aam Kumari and One Unexpected Love Story —‘The Royals’ Arrives May 9 on Netflix

    A Rajkumar, An Aam Kumari and One Unexpected Love Story —‘The Royals’ Arrives May 9 on Netflix

    Bengali New Year ‘Pohela Boishak’ celebration comes to glittering end at Banga Bhawan 

    Bengali New Year ‘Pohela Boishak’ celebration comes to glittering end at Banga Bhawan 

    L to R_ LIVA Miss Diva Content Creator 2024 Ananya Praveen, LIVA Miss Diva Supranational 2024 Ayushree Malik, LIVA Miss Diva Cosmo 2024 Vipra Mehta, LIVA Miss Diva Fashion Designer 2024 Sudhruti Padhiary

    LIVA Miss Diva 2024 Announces Its Winners

    How india’s streaming audience is becoming more diverse & experimental

    Government College of Nursing, Patiala Hosts Memorable Fresher and Farewell Ceremony" Crescendo 2024"

    Government College of Nursing, Patiala Hosts Memorable Fresher and Farewell Ceremony” Crescendo 2024″

    North region selection trials for ‘Women’s Kabaddi League 2025’ held at Chandigarh University

    North region selection trials for ‘Women’s Kabaddi League 2025’ held at Chandigarh University

  • e-paper 2023
  • e-paper 2024
  • e-paper 2025
No Result
View All Result
Bright Punjab Express
  • Home
  • CONTACT US
  • e-paper
    • E-Paper (2018)
    • E-Paper (2019)
    • E-Paper (2020)
    • E-Paper (2021)
    • e-paper 2022
    • e-paper 2023
    • e-paper 2024
    • e-paper 2025
  • Top Stories
  • Punjab
  • Coronavirus
  • Nation
  • Chandigarh
  • World
  • Sports
  • Entertainment
    • All
    • Sports
    A Rajkumar, An Aam Kumari and One Unexpected Love Story —‘The Royals’ Arrives May 9 on Netflix

    A Rajkumar, An Aam Kumari and One Unexpected Love Story —‘The Royals’ Arrives May 9 on Netflix

    Bengali New Year ‘Pohela Boishak’ celebration comes to glittering end at Banga Bhawan 

    Bengali New Year ‘Pohela Boishak’ celebration comes to glittering end at Banga Bhawan 

    L to R_ LIVA Miss Diva Content Creator 2024 Ananya Praveen, LIVA Miss Diva Supranational 2024 Ayushree Malik, LIVA Miss Diva Cosmo 2024 Vipra Mehta, LIVA Miss Diva Fashion Designer 2024 Sudhruti Padhiary

    LIVA Miss Diva 2024 Announces Its Winners

    How india’s streaming audience is becoming more diverse & experimental

    Government College of Nursing, Patiala Hosts Memorable Fresher and Farewell Ceremony" Crescendo 2024"

    Government College of Nursing, Patiala Hosts Memorable Fresher and Farewell Ceremony” Crescendo 2024″

    North region selection trials for ‘Women’s Kabaddi League 2025’ held at Chandigarh University

    North region selection trials for ‘Women’s Kabaddi League 2025’ held at Chandigarh University

  • e-paper 2023
  • e-paper 2024
  • e-paper 2025
No Result
View All Result
Bright Punjab Express
No Result
View All Result
Home Cities Chandigarh

Punjab Finance Minister Harpal Singh Cheema Advocates for Extension of GST Compensation Cess Regime Beyond 2026

Jai Singh by Jai Singh
December 2, 2024
in Chandigarh, Punjab, Top Stories
0 0
0
0
SHARES
36
VIEWS
Share on FacebookShare on Twitter

Strongly Presents Case of Revenue Loss Caused By Subsumation of Various Taxes Into GST

Chandigarh, December 2

In a strong push for the continuation of the Goods and Services Tax (GST) Compensation cess regime, Punjab Finance Minister Advocate Harpal Singh Cheema on Monday strongly recommended the continuation of the Goods and Services Tax (GST) Compensation Cess regime beyond March 31, 2026, to ensure that states can mitigate the revenue loss caused by the subsumation of various taxes into GST. This recommendation was made during the Group of Ministers (GoM) meeting on Compensation Cess, which Finance Minister Harpal Singh Cheema attended via video conferencing.

Finance Minister Harpal Singh Cheema emphasized that the GST Council, as per the Goods and Services (Compensation to States) Act 2017, has the mandate to recommend extending the compensation period beyond five years. He highlighted the significant and permanent revenue loss faced by Punjab due to the subsumation of the purchase tax on foodgrains into GST. This tax was a crucial contributor to the state’s revenue in the pre-GST era, he added.

Finance Minister Cheema further pointed out that the rate of tax on goods under the Value Added Tax (VAT) regime was significantly higher than the rate applicable under GST. He said this discrepancy has resulted in considerable revenue loss for the state. He stressed that the continuation of the GST Compensation Cess regime is essential to address these financial challenges and ensure the fiscal stability of states like Punjab.

Finance Minister Cheema’s call for action reflects the broader concerns of many states that have experienced similar revenue losses due to implementing GST. His recommendation aims to ensure that states are adequately compensated for their financial setbacks and can continue to provide essential services and development initiatives for their citizens. The Finance Minister’s strong advocacy for the extension of the GST Compensation Cess regime also underscores the Chief Minister Bhagwant Singh Mann led Punjab government’s commitment to safeguarding the state’s financial interests

Share this:

  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on X (Opens in new window) X

Like this:

Like Loading...

Related

Tags: Advocate Harpal Singh CheemabrightpunjabexpressCompensation CessGoods and Services TaxGSTPunjab Finance Minister

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Jai Singh

Jai Singh

May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
« Apr    

Browse by Category

  • Abohar
  • Ambala
  • Amritsar
  • Anandpur Sahib
  • Baba Bakala
  • Barnala
  • Batala
  • Bathinda
  • Beas
  • Budhlada
  • Business
  • Business
  • Chamkaur Sahib
  • Chandigarh
  • Cities
  • Comment
  • Coronavirus
  • Delhi
  • Dera Baba Nanak
  • Derabassi
  • Dhuri
  • Diaspora
  • Dinanagar
  • Dirba
  • Editorials
  • Entertainment
  • Epaper
  • Faridkot
  • Fatehgarh Sahib
  • Fazilka
  • Ferozepur
  • Gurdaspur
  • Haryana
  • Health
  • Himachal
  • Hoshiarpur
  • Hot Topics
  • Hussainiwala
  • J & K
  • Jagroan
  • Jalalabad
  • Jalandhar
  • Jammu
  • Kapurthala
  • Khadoor Sahib
  • Khanna
  • Khatkar Kalan
  • Kila Raipur
  • Kotkapura
  • Lambi
  • Lehragaga
  • Lifestyle
  • Ludhiana
  • Machhiwara
  • Malerkotla
  • Malout
  • Mandi Gobindgarh
  • Mansa
  • Moga
  • Mohali
  • Morinda
  • Most Read
  • Mukerian
  • Muktsar
  • Mullanpur Dakha
  • Mumbai
  • Musings
  • Nabha
  • Naina Devi
  • Nangal
  • Nation
  • Nawanshahar
  • Nawanshahr
  • Nawanshehar
  • News
  • Opinion
  • Panchkula
  • Pathankot
  • Patiala
  • Patti
  • Phagwara
  • Politics
  • politics over farm
  • Punjab
  • Rajpura
  • Review
  • Rupnagar
  • Samana
  • Samrala
  • Sangrur
  • Sardulgarh
  • SAS Nagar
  • Science
  • Shaheed Bhagat Singh Nagar
  • Shahkot
  • Shimla
  • Sports
  • Sports
  • Sri Anandpur Sahib
  • Sri Muktsar Sahib
  • States
  • Sultanpur Lodhi
  • Sunam
  • Tarn Taran
  • Technology News
  • Top Stories
  • Uncategorized
  • Uttarakhand
  • World
  • World
  • Zira
  • Home
  • CONTACT US
  • e-paper
  • Top Stories
  • Punjab
  • Coronavirus
  • Nation
  • Chandigarh
  • World
  • Sports
  • Entertainment
  • e-paper 2023
  • e-paper 2024
  • e-paper 2025

© 2022 Bright Punjab Express Powered by Jai Singh +91-9781-947063.

No Result
View All Result
  • Home
  • CONTACT US
  • e-paper
    • E-Paper (2018)
    • E-Paper (2019)
    • E-Paper (2020)
    • E-Paper (2021)
    • e-paper 2022
    • e-paper 2023
    • e-paper 2024
    • e-paper 2025
  • Top Stories
  • Punjab
  • Coronavirus
  • Nation
  • Chandigarh
  • World
  • Sports
  • Entertainment
  • e-paper 2023
  • e-paper 2024
  • e-paper 2025

© 2022 Bright Punjab Express Powered by Jai Singh +91-9781-947063.

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Open chat
1
Need Help ?
WhatsApp
“How Can I Help You?”
%d