Saturday, April 10, 2021
Home NEWS GST compensation: Center released Rs 30,000 crore to states, 70 thousand crore...

GST compensation: Center released Rs 30,000 crore to states, 70 thousand crore released so far

The Finance Ministry said that the Center released Rs 30,000 crore to the states as GST compensation on 27 March. Around 63,000 crore rupees are pending for the current financial year. So far Rs 70,000 crore has been released in the Goods and Services Tax (IGST) compensation item for the financial year ended 31 March. This is in addition to the Rs 1.10 lakh crore released to the states under the special borrowing system to compensate for the reduction in GST collections in the current financial year.

The ministry said in a statement, on March 27, the central government released Rs 30,000 crore on GST compensation to states for 2020-21. In this financial year, a total of Rs 70,000 crore has been released so far for compensation.

28,000 crore settlement in IGST

In addition, the Center has disposed of Rs 28,000 crore under the Integrated GST (IGST) item. Of this, 14,000 crore rupees have been shared equally between the states and the center.

According to the Ministry, after considering the GST compensation, borrowings and IGST settlement released so far, only 63,000 crore rupees is pending for the States and Union Territories in the GST compensation item for 2020-21.

read this also- Invest in this special scheme of PNB for better tomorrow, get more profits

Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.


Please enter your comment!
Please enter your name here

Most Popular

Your favorite car will be expensive from April 1, after all, why companies are increasing the price, how much will this year increase?

First petrol-diesel, then LPG, then edible oil and now much more is going to be more expensive. Along with the items of necessity, now...

Ambani, Adani, Tata, Mahindra all overshadowed by this businessman, made it like this

Harsh Goenka: Global analytics firm followerwonk has released the list of Social Authority scores for the...

careful! Such apps may be found in the smartphone, it may be a big amount charged in the name of fake trial

Mobile apps that have a free trial for a short period of time are called flickware. In the past, these apps have earned a...

Telangana: 68 staff of Laxmi Narasimha Swamy temple started Corona positive, mega test camp

After the corona positive of 68 members of the temple, a mega corona virus test camp...

Government will give 20 lakh rupees for treatment of rare disease, treatment will be done under Ayushman Bharat

The government will provide financial assistance up to 20 lakh rupees under the umbrella scheme of...