The Ministry of Finance has clarified that it has released the 19th weekly instalment of Rs 2,104 crore to the States to meet the GST compensation shortfall. The amount has been borrowed this week at an interest rate of 5.8594 percent.
Out of this, an amount of Rs 2,103.95 crore has been released to 7 States and an amount of Rs 0.05 crore has been released to the Union Territories (UT) of Puducherry.
Till now, 96 percent of the total estimated GST shortfall has been released, out of this, an amount of Rs 97,242.03 crore has been released to the States and an amount of Rs 8,861.97 crore has been released to the 3 UTs with Legislative Assembly.
So far, an amount of Rs 1,06,104 crore has been borrowed by the Central Government at a weighted average interest rate of 4.8842 percent.
Click here for official press release:
Knowledge Source:
GST E-invoicing Turnover Limit Reduced to Rs 50 Crore