Bengaluru, Mar 11 (KNN) Karnataka Chief Minister Basavaraj Bommai has said the central government is likely to accepts its requests to extend the Goods and Services Tax (GST) compensation by another three years.

“It is likely that the union government will soon make a decision and we are confident that it will be an extension announcement,” he said.

Earlier this week Finance Minister Nirmala Sitharaman was in Karnataka and was visited by CM Bommai to discuss the matter and request for the extension.

With regards to the GST compensation and loans, Karnataka got Rs 10,754 crore in 2018-19, Rs 14,496.73 crore in 2019-20, Rs 26,196.25 crore in 2020-21 and Rs 25,267.29 crore in 2021-22 (up to February end), he informed the state legislative assembly.

He has informed the GST Council about the GST funds of Karnataka and their right on it through an extension of the compensation period.

The GST collection in 2018-19 was Rs 52,167.20 crore, in 2019-20 it went up to Rs 57,522.74 crore, in 2020-21 it was Rs 64,527.57 crore and in 2021-22 (up to February end) it was Rs 70,108.68 crore. (KNN Bureau)