Bengal for deferring GST roll-out due to demonetisation

The West Bengal government today said that the roll-out of Goods and Services Tax should be deferred in view of the massive 'destabilising' move of demonetisation till the economy was back on track.
"The GST roll-out in itself is destabilising but for a good cause. It is destabilising on the exchequer of all states," West Bengal finance minister Amit Mitra told reporters at the state secretariat.
He said that the GST Council had decided that compensation to states would not be provided from the Consolidated Fund of India but from a special fund corpus of Rs 50,000 crore.
Mitra, also the chairman of the empowered committee on GST, said that the onset of demonetisation by the Centre "was a tsunami which hit the country".

"Will the country be able to take the two hits, GST and demonetisation at the same time. Will the companies and the state governemnts be able to restructure themselves?" he asked.
The West Bengal government felt that the implemention of the GST should be deferred and implemented till the economy was able to recover from the demonetisation shock.
"GST is lost in the horrible case of demonetisation. Once implemenented it will be good for the country as happened in Canada, New Zealand Australia and Canada", he said.
The next meeting of the GST Council is slated for December 11-12 .