GST compensation of Rs 30,000 crore released to states for 2020-21
Centre has also released Rs. 28,000 crore by way of ad hoc settlement of IGST to states and Centre
The central government has released GST compensation of Rs. 30,000 crore to states as part compensation for 2020-21. The total amount of compensation released so far for the year 2020-21 is Rs. 70,000 crore. As per the decision of GST Council, back to back loan of Rs. 1,10,208 crore has also been released to make up for the shortfall in release of GST Compensation for FY 2020-21. In addition to above, Centre has also released Rs. 28,000 crore (Rs 14,000 crore to states and Rs 14,000 crore to Centre) by way of ad hoc settlement of IGST on Tuesday.
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/UTs for FY 2020-21.
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