Centre releases Rs 70000 crore as GST compensation to states, UTs in FY 2020-21
The total GST compensation released by the Central Goverment to states and UTs stood at Rs 70,000 crore on March 31 when the FY 2020-21 drew to close. So far Rs 30,000 crore GST compensation was released to States as part compensation on 27th March 2021 and Rs 1,10,208 crore has been release as back to back loan in lieu of the shortfall in GST Compensation released for the FY 2020-21. Apart from this, the GST Council has also provided back to back loan of Rs 1,10208 crore in lieu of the shortfall in the release of GST Compensation in FY 2021-21.
The Centre has also release Rs 14000 crore to states and Rs 14000 crore to centre as part of adhoc settlement of IGST. Still, approximately Rs 63000 crore GST Compensation to the States and UTs is pending for FY 2020-21.
