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Centre releases 17 thousand crore rupees balance GST compensation to states and union territories

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The Centre has released today an amount of 17 thousand crore rupees towards the balance GST compensation to states and union territories for the period April to June this year. The list of states that received higher competition are Maharashtra, Karnataka, Uttar Pradesh, Delhi and Tamil Nadu.

Maharashtra got the highest compensation at over two thousand crore rupees while Delhi and Uttar Pradesh received over one thousand two hundred crore rupees. Karnataka also got over one thousand nine hundred crore rupees and Tamil Nadu nearly twelve thousand crore rupees. The total amount of compensation released so far during the year 2022-23, is over one lakh 15 thousand crore rupees.

The Ministry of Finance said that the centre has released, in advance, the entire amount of Cess estimated to be collected this year till March-end available for payment of compensation to States. It said, this decision was taken to assist the States in managing their resources and ensuring that their programmes, especially the expenditure on capital is carried out successfully during the financial year.

The Ministry stated that, earlier, in May this year, the Central Government had released over 86 thousand crore rupees as provisional GST compensation to States for the period February to May this year. (AIR NEWS)

64 Days ago