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Finance Ministry releases weekly instalment of Rs 6,000 crore to meet GST shortfall
The Finance Ministry on Monday released the ninth instalment of Rs 6,000 crore to the states to meet GST compensation shortfall, taking the total amount of fund released to Rs 54,000 crore. The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of implementation of GST.
The Ministry of Finance in a statement said it has released the ninth weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall.
The Finance Ministry has released the ninth weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall. Out of this, an amount of Rs 5,516.60 crore has been released to 23 states and an amount of Rs 483.40 crore has been released to the three Union Territories (UT) with Legislative Assembly (Delhi, Jammu & Kashmir and Puducherry) who are members of the GST Council. The remaining 5 states Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation. The government had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of implementation of GST.
Centre releases Rs 6K crore loan to states to meet GST compensation shortfall
Mon, Dec 28 2020 09:16:09 PM
New Delhi, Dec 28 (IANS): The Finance Ministry has released the ninth weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall.
Out of this, an amount of Rs 5,516.60 crore has been released to 23 states and an amount of Rs 483.40 crore has been released to the three Union Territories (UT) with Legislative Assembly (Delhi, Jammu & Kashmir and Puducherry) who are members of the GST Council. The remaining 5 states Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation.
8th tranche of Rs 6,000 cr released to States
Ministry of Finance has released the 8th weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall.
| 22 Dec 2020 4:16 AM GMT
NEW DELHI: Ministry of Finance has released the 8th weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall.
Out of this, an amount of Rs 5,516.60 crore has been released to 23 States and an amount of Rs 483.40 crore has been released to the three Union Territories (UT) with Legislative Assembly (Delhi, Jammu & Kashmir & Puducherry) who are members of the GST Council.
The remaining 5 States, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation.
GST compensation shortfall: 8th tranche of Rs 6K Cr released to states daijiworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from daijiworld.com Daily Mail and Mail on Sunday newspapers.