GST Compensation of 1.36 Lakh Crore Still Pending

GST Compensation

Minister of finance Pankaj Chaudhary has replied to a question in Lok Sabha that About Rs 1.36 lakh crore of compensation due to states under Goods and Services Tax (GST) regime is yet to be released to states and Union Territories for FY21 and FY22, government data showed. Of this, over Rs 81,000 crore GST compensation is due to states for 2020-21, while Rs 55,345 crore is outstanding for April-May.

Further he added, GST compensation of Rs 91,000 crore has been released to all states/UTs to partly meet the compensation payable for last fiscal year as the amount in GST compensation fund was not adequate to meet the full requirement.

The amount due to major states for 2020-21 include Maharashtra (Rs 15,138 crore), Karnataka (Rs 7,202 crore), UP (Rs 7,109 crore), Gujarat (Rs 6,583 crore), Tamil Nadu (Rs 6,155 crore), Delhi (Rs 5,190 crore), West Bengal (Rs 3,911 crore) and Punjab (Rs 3,752 crore).


Knowledge Source:

Rs 75000 Crore GST Compensation Released to States and UTs

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