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LATEST NEWS UPDATES | GST compensation shortfall: Govt releases ₹6,000 crore to 23 States, 3 UTs

GST compensation shortfall: Govt releases ₹6,000 crore to 23 States, 3 UTs

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published Published on Dec 9, 2020   modified Modified on Dec 11, 2020

-Livemint.com

The amount released this week was the 6th installment of such funds provided to the States

The Finance Ministry has released the weekly installment of 6,000 crore to the States to meet the GST compensation shortfall on Wednesday.

Out of this, an amount of 5,516.60 crore has been released to 23 States and an amount of 483.40 crore has been released to the 3 Union Territories with Legislative Assembly (Delhi, Jammu & Kashmir and Puducherry) who are members of the GST Council.

The remaining 5 States -- Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim -- do not have a gap in revenue on account of GST implementation.

The Centre is borrowing this amount on behalf of the States and UTs through a special borrowing window to meet the estimated shortfall of 1.10 lakh crore in revenue arising on account of GST implementation.

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Livemint.com, 9 December, 2020, https://www.livemint.com/news/india/gst-compensation-shortfall-govt-releases-rs-6-000-to-23-states-3-uts-11607520352247.html


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