GST causes Rs. 60 crore loss to PCB as govts hold back its share
PCB entitled to Rs. 170-200 cr, says chief
Pune: After the introduction of Goods and Service Tax (GST), the Pune Cantonment Board (PCB) has suffered a revenue loss of Rs 60 crore, as they are not getting their share of GST from the Central and State governments.
Due to this, no new projects are being taken up by PCB. The yearly expenditure of the board is around Rs 120 crore and, in this fiscal year, the revenue collected locally is Rs 60 crore.
DN Yadav, Chief Executive Officer of PCB, said, “The expenditure of the board includes asset maintenance cost, salaries and pension. From Local Body Tax (LBT), we used to get Rs 90 crore annually, but since LBT was abolished by the government, the PCB has not been able to generate much revenue. The board is staring at a major financial crisis. It is finding it difficult to manage expenses and we are not taking up any new projects.”
“Along with the other civic areas of the city, businessmen, traders and industries in PCB area are paying Rs 800 crore GST annually and we are entitled to a Rs 170 to 200 crore share from it as additional revenue,” Yadav said.
Yadav added, “We are in talks with both the governments about the issue. And if they are still delaying the process, we are going to file a petition in the High Court.”
Shrigiri elected PCB’s New VP
Priyanka Shrigiri was elected as the Vice President of PCB on Monday in the presence of Dilip Kamble, Maharashtra Minister of State for Social Justice; Rajiv Sethi, President of PCB; DN Yadav, CEO of PCB, and all ward members. Her tenure will be a year.