The Centre Has Cleared The Entire Gst Compensation Payable Till Date By Releasing Rs 86,912 Crore To States, The Finance Ministry Said On Tuesday.
The centre has also contended that of the projected shortfall of about ₹2.35 lakh crore, only ₹97,000 crore is the deficit arising out of gst implementation, with the balance. About ₹ 87,000 crore has already been released this year. The centre has released rs 30,000 crore to the states as gst compensation on march 27, and about rs 63,000 crore is pending for the current fiscal, the finance ministry said.
The Modalities Of The Compensation Cess Were Specified By The Gst (Compensation To States) Act, 2017.
The relation between the centre and the states has reached its nadir with the controversy over the gst compensation payment. Of this, rs 25,000 crore is. The gst (compensation to states) act guarantees all states an annual growth rate of 14 per cent in their gst revenue in the first five years of implementation of gst beginning.
This Year, We Are Going To Give A Compensation Of More Than ₹ 1 Trillion.
Tnn / jun 1, 2022, 06:08 ist share aa new delhi: Centre clears entire gst compensation due till date to states. The centre has released the entire amount of rs 86,912 crore compensation dues payable to all states, including kerala, under the goods and services.
It Is Estimated That There Would Be A Shortfall In Compensation To States By Rs 2,35,000 Crore, Of Which Rs 97,000 Crore Is Being Attributed To A Shortfall Arising From The.
This act assumed that the gst. Under the gst (compensation to states) act, 2017, states are guaranteed compensation for loss of revenue on account of implementation of gst for a transition period. The centre is expected to tell states that 20% growth in gst revenue collections in april was more than states’ protected revenue growth rate of 14% backed by gst.
In Addition, Centre Has Also Been.
The centre is resolute in its decision not to borrow. About ₹87,000 crore has already been released this year. The promise, to compensate states for loss of revenue on account of gst.