The Centre has released Rs 36,400 crore as GST compensation to the states and
The Centre has released Rs 36,400 crore as GST compensation to the states and union territories for three months till February 2020.
For the April-November 2019 period, the Centre had already released Rs 1,15,096 crore to compensate states and UTs on account of revenue loss due to implementation of the Goods and Services Tax (GST).
“Taking stock of the current situation due to coronavirus (Covid-19) where state governments need to undertake expenditure while their resources are adversely hit, the central government has released the GST compensation of Rs 36,400 crore to the states/UTs with legislature for the period from December 2019 to February 2020,” an official statement said.
The Centre had released Rs 69,275 crore in 2018-19 and Rs 41,146 crore in 2017-18 as compensation for GST which was rolled out on July 1, 2017.
The cess collection in 2019-20, 2018-19 and 2017-18 fiscal was Rs 95,000 crore, Rs 95,081 crore and Rs 62,611 crore, respectively.
As the compensation requirement of the states…