<p>Finance Minister Nirmala Sitharaman on Friday said a special GST Council session will be held to decide on extending the GST compensation regime beyond 2022.</p>.<p>She was responding to media queries on demands by various state governments to extend compensation to states beyond July 22.</p>.<p>"There will be a special GST session convened to discuss the extension - if any - after July 2022," she said.</p>.<p>Recently, the Karnataka government had decided to write to the Centre seeking an extension of the compensation scheme.</p>.<p>On a petition by Home Minister <a href="https://www.deccanherald.com/state/top-karnataka-stories/fm-sitharaman-has-assured-to-pay-gst-compensation-dues-bommai-1004117.html" target="_blank">Basavaraj Bommai - Karnataka's representative in the GST council</a> - to release pending GST compensation dues to the tune of Rs 11,800 crore, she said that the Centre had paid what was due. "The residual amount will be paid as and when the economic situation improves," she said.</p>.<p>To a question on rising fuel prices, Sitharaman said that excise duty was levied both by the Centre and state governments. "Oil barrel prices have spiked in the international market, contributing to the increase here," she said.</p>.<p>She said that prices of edible oil and pulses were expected to go down in the coming days.</p>.<p>"We are definitely taking every measure to ensure that the money is returned," Sitharaman said about the steps taken to return the amount defaulted by fugitives such as Vijay Mallya and Nirav Modi. However, it is a long drawn process ranging from attaching the properties by investigating agencies till the final order by the Debt Recovery Tribunal, she said.</p>.<p>She also addressed a group of depositors from the scam-hit Sri Guru Raghavendra Cooperative Bank, asking them to stay put until the administrator submits his report.</p>.<p>"After the administrator submits the report, the Reserve Bank has to see. After that it can allow you to take your money, after some buyer is found. Some solution is to be arrived (at)," she told a group of petitioners who met her. "I am clearly standing before you and telling the truth, the facts. So, kindly wait for the administrator to submit a report," she said.</p>.<p><strong>Check out DH latest videos:</strong></p>
<p>Finance Minister Nirmala Sitharaman on Friday said a special GST Council session will be held to decide on extending the GST compensation regime beyond 2022.</p>.<p>She was responding to media queries on demands by various state governments to extend compensation to states beyond July 22.</p>.<p>"There will be a special GST session convened to discuss the extension - if any - after July 2022," she said.</p>.<p>Recently, the Karnataka government had decided to write to the Centre seeking an extension of the compensation scheme.</p>.<p>On a petition by Home Minister <a href="https://www.deccanherald.com/state/top-karnataka-stories/fm-sitharaman-has-assured-to-pay-gst-compensation-dues-bommai-1004117.html" target="_blank">Basavaraj Bommai - Karnataka's representative in the GST council</a> - to release pending GST compensation dues to the tune of Rs 11,800 crore, she said that the Centre had paid what was due. "The residual amount will be paid as and when the economic situation improves," she said.</p>.<p>To a question on rising fuel prices, Sitharaman said that excise duty was levied both by the Centre and state governments. "Oil barrel prices have spiked in the international market, contributing to the increase here," she said.</p>.<p>She said that prices of edible oil and pulses were expected to go down in the coming days.</p>.<p>"We are definitely taking every measure to ensure that the money is returned," Sitharaman said about the steps taken to return the amount defaulted by fugitives such as Vijay Mallya and Nirav Modi. However, it is a long drawn process ranging from attaching the properties by investigating agencies till the final order by the Debt Recovery Tribunal, she said.</p>.<p>She also addressed a group of depositors from the scam-hit Sri Guru Raghavendra Cooperative Bank, asking them to stay put until the administrator submits his report.</p>.<p>"After the administrator submits the report, the Reserve Bank has to see. After that it can allow you to take your money, after some buyer is found. Some solution is to be arrived (at)," she told a group of petitioners who met her. "I am clearly standing before you and telling the truth, the facts. So, kindly wait for the administrator to submit a report," she said.</p>.<p><strong>Check out DH latest videos:</strong></p>
