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The Finance Ministry has released the 17th weekly installment of Rs 5,000 crore to 23 states and 3 Union Territories to meet the GST compensation shortfall
The remaining 5 states, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim, do not have a gap in revenue on account of Goods and Services Tax (GST) implementation., , GST Compensation, gst council
The Centre has released Rs 1 lakh crore to states and Union Territories in the four months since October 2020, to meet GST compensation shortfall, the Finance Ministry said on Saturday. The ministry on Friday released the 17th weekly instalment of Rs 5,000 crore to 23 states and 3 Union Territories (Delhi, Jammu & Kashmir and Puducherry), taking the total amount released so far under the special borrowing window set up in October last year to Rs 1 lakh crore.
Centre releases 17th installment of Rs 5000 crore to states to meet GST compensation shortfall
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Out of this, an amount of Rs 91,460.34 crore has been released to the States and an amount of Rs 8,539.66 crore has been released to the 3 UTs with the Legislative Assembly.
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The Centre has released the 17th instalment of Rs 5,000 crore to states as a back-to-back loan to meet the compensation shortfall in the collection of goods and services tax, taking the total amount released so far through the special borrowing window to Rs 1 lakh crore, the finance ministry said on Saturday.