By – Aditi Gupta
K.N. Balagopal, the minister of finance for Kerala, requested a review of the GST distribution between the federal government and the states. According to him, the states ought to get 60% of the share.
The GST distribution between the federal government and the states should be reviewed, according to Kerala Finance Minister K.N. Balagopal. According to him, the states ought to receive 60% of the share. In contrast, it is now divided equally.
On Sunday, Balagopal’s office released a statement. The minister reportedly stated that the present 50:50 ratio ought to be changed to 40:60 in favor of the states during the Goods and Services Tax (GST) Council meeting on Saturday in New Delhi.
The state finance minister stated during the meeting that Kerala is anticipated to gain from the decision made in favor of Integrated GST. According to him, e-commerce businesses usually have to submit a GSTR-8 return that includes the GST charges incurred when doing business via e-commerce platforms.
According to Balagopal, the meeting resolved that the GSTR-8 report should include details regarding the state to which the tax should be sent in addition to the tax amount. This is a significant decision that will greatly help Kerala.
According to the minister, IGST is collected from customers here by businesses that offer goods and services from other states in Kerala on e-commerce sites like Amazon and Flipkart.