Rs. 30,000 Crore as GST Compensation Released And Rs. 28,000 Crore as IGST Ad-Hoc Settlement to States
Centre releases Rs. 30,000 crore as GST Compensation as well as Rs. 28,000 crore as IGST ad-hoc settlement to the States/UTs
The Central Government has released GST Compensation of Rs. 30,000 crore to States as part compensation admissible for FY 2020-21 on 27th March, 2021. 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 in lieu of 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 adhoc settlement of IGST on 30th March’ 2021.
Taking into account the release of GST Compensation, back to back loan and adhoc IGST settlement, balance of only Rs. 63,000 crore approx. GST Compensation is pending to States/UTs for FY 2020-21.
The tables below show the State-wise GST compensation/ IGST Settlement released for the Financial Year 2020-21: –
|Sl No.||Name of State/UT||GST compensation released on 27th March, 2021 (Rs. in crore)|
|10||J & K||418.6783|
|State Code||Name of the State / UT||Adhoc IGST Settlement released on 30th March, 2021 (Rs. in crore )|
|1||Jammu and Kashmir||167|
|25||Daman and Diu||23|
|26||Dadra and Nagar Haveli||27|
|35||Andaman & Nicobar Is.||4|