Nagpur: The state government is all set to increase goods and services tax (GST) grant of municipal corporations. The cash-strapped Nagpur Municipal Corporation’s (NMC) GST grant is likely to be increased from Rs 52.57 crore per month (Rs 630.84 crore/annum) to over Rs9 0 crore per month (Rs 1,080 crore per annum).
Governor Ch Vidyasagar Rao issued a gazette notification on November 6 through which the norms to calculate GST grant of municipal corporations has been changed.
Since implementation of GST in July 2017, the grant was calculated taking into consideration the revenue of the municipal corporations during local body tax (LBT). The financial crisis of the civic bodies reportedly deteriorated as GST grant was being calculated less than demand and lower than the revenue during octroi .
NMC official told the civic body should be given GST grant of Rs 98 crore per month. “Grant of Rs 88.63 crore per month (Rs 1,063.56 crore per annum) was calculated in the last fiscal. After adding a rise of 17%, our GST grant applicability will increase to Rs 98 crore per month (Rs 1,176 crore per annum),” he said.
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