GST compensation worth Rs 52,000 crore was due to states till September 2021
Approximately Rs 52,000 crores of Goods and Services Tax (GST) compensation was due to the states till September 2021, government has said.
Giving this information, minister of state for finance Pankaj Chaudhary told Lok Sabha said in a written reply to a question on Monday that Rs 1,10,208 crore and Rs 1.59 lakh crore was released to states as back to back loan in 2020-21 and 2021-22 respectively.
Total GST compensation pending till September 2021 stood at Rs 51,798 crore, he said. This includes Rs 13,153 crore pending to Maharashtra, Rs 5,441 crore to Uttar Pradesh, Rs 4,943 crore to Tamil Nadu, Rs 4,647 crore to Delhi and Rs 3,528 crore to Karnataka.
The minister further informed the lower house in response to a separate question that Rs 17,000 crore was released on November 3, 2021, towards GST compensation to states from the compensation fund.
This is in addition to GST compensation of Rs 43,303 crore released to states and Rs 1.59 lakh crore as back to back assistance during the current financial year, he added.
Under the GST law, states are compensated for any loss of revenue arising on account of implementation of GST for five years till June 2022.
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