By Bizodisha Bureau in Bhubaneswar, June 14, 2016 : Odisha on Tuesday asked the centre to compensate it for central sales tax (CST) loss of Rs 2,908.82 crore for financial years 2012-13 to 2014-15.

The state government raised the issue during a meeting of the Empowered Committee of State Finance Ministers on Goods and Services Tax (GST) held in Kolkata.

“The CST compensation claims for release by Government of India for the year 2012-13 to 2014-15 is Rs 2, 908.82 crore. The central government may release CST compensation for the year 2012-13 by the end of September,” an official press release n said here.

The state government received Rs 2,201.40 crore against its demand for Rs 2,755.36 crore towards CST compensation for the loss on account of CST reduction from 2007-08 to 2011-12.

Additional Chief Secretary (Finance) R. Balkrishnan and Commissioner, Commercial Taxes, Saswat Mishra, raised several issues in the meeting including the question of dual authority on traders, seeking steps that this be avoided in respect of audit and assessment of a particular dealer for the same tax period to avoid harassment and litigation.

They also pointed out that the GST return needs to be simplified. At its present form, GST return is quite complicated for a common trader as he has to fill in with commodity wise and the HSN code wise details. They suggested that filling of HSN code wise details of the commodities in the return form may be postponed during initial stages.

Odisha also demanded that “suitable provisions may be made in the IGST Act authorizing the state government authorities to audit, assess and recover taxes on the inter-state transaction of goods and services, as the State has a stake in IGST transaction as well”, said the statement.