Rs 17,000 Crore as GST Compensation Released to States/UTs

Rs 17,000 Crore as GST Compensation Released to StatesUTs

Ministry of Finance has released Rs 17,000 crore to the states and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation to meet the resource gap due to the short release of Compensation on account of inadequate amount in the Compensation Fund.

The total amount of compensation released to the States/UTs so far including the aforesaid amount during the year 2021-22 is Rs 60,000 crore.

As per the decision of GST Council, back to back loan of Rs.1.59 lakh crore has already been released in lieu of shortfall in release of GST Compensation during the current financial year.

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