Centre Released Rs. 1,65,302 Crore as GST Compensation to States/UTs for the FY 2019-20 against cess collection of Rs. 95,444 crore
Ministry of Finance
Central Government has recently released GST Compensation of Rs. 13,806 crore to States for March’2020. Taking this amount into account, entire compensation upto 2019-20 has been released to States. The total amount of compensation released for the year 2019-20 is Rs. 1,65,302 crore whereas the amount of cess collected during the year 2019-20 was Rs. 95,444 crore.
To release the compensation for 2019-20, balance of cess amount collected during 2017-18 and 2018-19 was also utilised. In addition, Centre had transferred Rs. 33,412 crore from Consolidated Fund of India to the Compensation Fund as a part of an exercise to apportion balance of IGST pertaining to 2017-18.
The table below shows the State-wise GST compensation released for the Financial Year 2019-20: –
|S.No||Name of State/UT||GST compensation released to States/Uts for FY 2019-20 (Rs. in Crore)|
|11||J & K||3281|