Amid Covid-19 Crisis, Centre Releases Rs 36,400 Crore As GST Compensation To States, UTs

Amid Covid-19 Crisis, Centre Releases Rs 36,400 Crore As GST Compensation To States, UTsGST collections

Amid the Covid-19 crisis, the Union government on Thursday (4 June) released Rs 36,400 crore as Goods and Service Tax (GST) compensation to the states and union territories for the period from December 2019 to February 2020.

For the period from April-November 2019, the Centre had already released a sum of Rs 1,15,906 crore to compensate for the loss incurred by states and UTs due to the implementation of the GST.

“Taking stock of the current situation due to 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,” the Ministry of Finance said in a statement on Thursday.

“The  GST Compensation of Rs.1,15,096 crore for period April-November 2019 had already been released by the Central Government to the States/ UTs with Legislature,” the ministry added.

Amid the Covid-19 c, the Union government on Thursday (4 June) released Rs 36,400 crore as Goods and Service Tax (GST) compensation to the states and union territories for the period from December 2019 to February 2020.