shot-button
Subscription Subscription
Home > News > India News > Article > Centre releases Rs 30000 crore GST compensation to states

Centre releases Rs 30,000 crore GST compensation to states

Updated on: 30 March,2021 12:00 AM IST  |  New Delhi
IANS |

According to the statement, the Centre has released Rs 28,000 crore by way of ad hoc settlement of IGST on March 30.

Centre releases Rs 30,000 crore GST compensation to states

This picture has been used for representational purpose

The Centre on Tuesday said it has released GST compensation amounting to Rs 30,000 crore to states.


The funds were released as part 'compensation admissible' for FY21 on March 27.


"The total amount of compensation released so far for the year 2020-21 is Rs 70,000 crore," the Ministry of Finance said in a statement.


"As per the decision of GST Council, back to back loan of Rs 1,10,208 crore has also been released in lieu of shortfall in release of GST Compensation for FY 2020-21."

According to the statement, the Centre has released Rs 28,000 crore by way of ad hoc settlement of IGST on March 30.

"Taking into account the release of GST Compensation, back to back loan and ad hoc IGST settlement, balance of only Rs 63,000 crore approx. GST compensation is pending to States or UTs for FY 2020-21."

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!


Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK