Finance Minister KN Balagopal called for steps on Friday to make sure that people actually benefit from the proposed tax on goods and services (GST) Revision of rates and state governments are reasonably compensated for any loss of income.
Balagopal said that with reporters, after participating in ministers from the NE-BJP countries in Nový Dilli, he said that Kerala is not against reducing the tax burden. However, past experience has shown that companies and businesses have evoked the benefits of GST reforms.
“People should gain the advantage of reducing taxes. At the same time, state government revenues also need guarantees,” he said. The ministers of eight states who met today at Karnataka Bhavan in Nový Delhi before the GST Council 3 and 4 September, were unanimous in sharing this opinion, he said.
Mr. Balagopal reiterated his assessment that Kerala himself stood over 8,000 GBP Crore due to GST shocks.
As for the GST regime, Mr. Balagopal said that Kerala was to receive 52 500 GBP tax tax last year if 14% of the annual increase in tax revenues were provided since 2017. In a value added tax, turnover tax modes would be 51,000 crore last year, he said.
Regardless of the statement that the Center and the States would notice the immersion of income due to the revision of the GST, in fact, the states cost them to lose more, Balagopal said. While the collections of the GST Center represent about 28% of their own tax revenue, the dependence of states on GST is much higher, he said. For state governments, it would be very difficult to take measures in the area of good living conditions and the development of infrastructure, if their income is not protected, he said.
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Published – 29 August 2025 20:32
