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Home / Business News / Govt releases Rs 36,400 crore GST compensation to the states

Govt releases Rs 36,400 crore GST compensation to the states

Union territories with legislatures also get the compensation. States have been urging the Centre to release full compensation due as the decline in economic activities have affected their revenue position.

business Updated: Jun 05, 2020 03:33 IST
Gireesh Chandra Prasad
Gireesh Chandra Prasad
Hindustan Times, New Delhi
Union territories with legislatures also get the compensation.
Union territories with legislatures also get the compensation. (PTI)

The central government on Thursday released ₹36,400 crore to states as their pending Goods and Services Tax (GST) compensation, said an official statement.

The payment is for the period of December 2019 to February 2020. The finance ministry also said in its statement that the fund was released in the context of the coronavirus pandemic where states need to make additional spending when their resources are adversely hit. Up to November, the administration had released ₹1,15,096 crore in GST compensation to states.

Union territories with legislatures also get the compensation. States have been urging the Centre to release full compensation due as the decline in economic activities have affected their revenue position. The government had last month announced that states will be allowed to raise up to 5% of their gross state domestic product.

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