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K.R. Srivats

New Delhi , Nov. 12

The Centre has, till date, received compensation claims of Rs 521 crore from four States for the revenue losses incurred in the current fiscal on account of VAT implementation.

Official sources said that Maharashtra, Karnataka, Tripura and Madhya Pradesh are the four States that have made revenue loss compensation claims. The last to join is Madhya Pradesh, which has claimed about Rs 45 crore for the period April-August 2006.

Indications are that there would not be any outgo from the Centre to Madhya Pradesh towards this claim as the latter has made certain deviations from the decisions of the Empowered Committee of State Finance Ministers on VAT.

Related Stories:
VAT shift: Loss in revenue put at Rs 2,400 cr a year
Meet on VAT compensation package soon
VAT revenues up 32 pc in H1
VAT compensation: Centre makes supplementary demand

More Stories on : Taxation | States

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