New Delhi: The Union government had released Rs 6000 crores as GST compensation to states and Union Territories (UTs). The Union Finance Ministry announced this.
Out of this, an amount of Rs 5,516.60 crore has been released to 23 states and Rs 483.40 crore has been released to the 3 Union Territories (UT) with Legislative Assembly (Delhi, Jammu & Kashmir & Puducherry) who are members of the GST Council. The ministry said that the remaining five states- Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim- do not have a gap in revenue on account of GST implementation.
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As per the data released by the ministry, till now 70% of the total estimated Goods and Services Tax (GST) compensation shortfall has been released to the states and UTs with Legislative Assembly. Rs 71,099.56 crore has been released to the states and Rs 6,900.44 crore has been released to the 3 UTs with Legislative Assembly.
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