New Delhi: YSRCP MP V.Vijay Sai Reddy spoke in the Rajya Sabha during the discussion on GST bill. He clearly explained the possible affects to be faced by the state of AP if GST bill was amended. He appealed to the union finance minister to make certain suggestions in the amendment bill.
He mentioned that it had been told that the centre would bear the loss on GST, but the states in deficit needed to be assisted. He criticised the way the deficit percentage had been divided among the first five years. The division was 100% in the first three years, 50% in the fourth year and 25% in the fifth year. He opined that the division for AP state should instead be 100% for 5 years, 50% in the sixth year and 25% in the seventh year.
Moreover, he also appealed for more percentage of tax exemption according to reorganisation act. He remarked that if there was exemption on alcohol and petroleum products, it should also be there on electricity. He also requested for raise of exemption on services like the internet by 40%.
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