Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Centre releases Rs 1.04 lakh crore GST compensation shortfall to states since October

Date: 02-03-2021
Subject: Centre releases Rs 1.04 lakh crore GST compensation shortfall to states since October
The Centre has released Rs 1.04 lakh crore to states in four months since October 2020, to meet GST compensation shortfall, the finance ministry said on Monday.

The ministry on Monday released the 18th weekly instalment of Rs 4,000 crore to 23 states and 3 Union territories with Legislative Assembly (Delhi, Jammu & Kashmir and Puducherry), taking the total amount released so far under the special borrowing window set up in October last year to Rs 1.04 lakh crore.

The remaining 5 states, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of the goods and services tax (GST) implementation.

The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of the implementation of GST. The borrowings are being done through this window by the Centre on behalf of the states and UTs.

Under the special window, the Centre has been borrowing in government stock with tenures of 3 years and 5 years. The borrowing made under each tenure is equally divided among all the states as per their GST compensation shortfall.

"Till now, 94 per cent of the total estimated GST compensation shortfall has been released to the states and UTs with Legislative Assembly.

"Out of this, an amount of Rs 95,138.08 crore has been released to the states and an amount of Rs 8,861.92 crore has been released to the 3 UTs with Legislative Assembly," the statement added.

Eighteen rounds of borrowings have been completed so far starting from October 23, 2020.


Infodrive India Pvt Ltd

Delhi :
  F-19, Pocket F, Okhla Phase-I
      Okhla Industrial Area

      New Delhi- 110020
   011 - 40703001

Kolkata :
  5th Floor Stesalit Towers,
      E-2-3, EP & GP Block,

      Sector-V, Salt Lake City,
      Kolkata-700 091
   033 - 71177191

INFODRIVE INDIA Copyright © 1996-2021 InfodriveIndia. All Rights Reserved.
Please read our Terms of Use and Privacy Policy before you use.

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help