FinMin releases Rs 6K crore to states to meet GST compensation shortfall

The Ministry of Finance in a statement said it has released the tenth weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall
The Finance Ministry on Monday released the tenth instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall, taking the total amount provided so far under this window to Rs 60,000 crore.

 

The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 trillion in revenue arising on account of implementation of GST. The Ministry of Finance in a statement said it has released the tenth weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall.

 

Out of this, Rs 5,516.60 crore has been released to 23 states and Rs 483.40 crore has been given to the three Union Territories (UTs) with Legislative Assembly (Delhi, Jammu & Kashmir and Puducherry), who are members of the GST Council.               

 



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