Centre releases Rs 17,000 cr GST compensation to States

FPJ Web DeskUpdated: Wednesday, November 03, 2021, 05:08 PM IST
article-image
The total amount of compensation released to the States/UTs so far including the aforesaid amount during the year 2021-22 is Rs. 60,000 crore / Representational image |

The Central Govt has released GST compensation of Rs 17,000 crores to States today.

The total amount of compensation released to the States/UTs so far including the aforesaid amount during the year 2021-22 is Rs. 60,000 crore.

In October, the Centre released the balance Rs 44,000 crore to states as loan to compensate for the GST shortfall, taking the total such amount to Rs 1.59 lakh crore this fiscal.

This release of funds as back-to-back loans is in addition to the bi-monthly GST compensation being given out of cess collection.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Too much borrowing by real estate developers puts China's economy at risk

Too much borrowing by real estate developers puts China's economy at risk

Political parties can encash electoral bonds at 29 SBI branches between Dec 5 and 12

Political parties can encash electoral bonds at 29 SBI branches between Dec 5 and 12

How InvITs generate regular cash flow for you by investing in the future

How InvITs generate regular cash flow for you by investing in the future

ICICI bank held its Analyst Day in Mumbai

ICICI bank held its Analyst Day in Mumbai

ASSOCHAM’s 6th National Summit on Insolvency & Bankruptcy Code and Valuation held in Mumbai

ASSOCHAM’s 6th National Summit on Insolvency & Bankruptcy Code and Valuation held in Mumbai