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Tuesday, November 5, 2024

Centre releases Rs. 30,000 crore as GST Compensation as well as Rs. 28,000 crore as IGST ad-hoc settlement to the States/UTs

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The Central Government has released GST Compensation of Rs. 30,000 crore to States as part compensation admissible for FY 2020-21 on 27th March, 2021. The total amount of compensation released so far for the year 2020-21 is Rs. 70,000 crore. As per the decision of GST Council, back to back loan of Rs. 1,10,208 crore has also been released in lieu of shortfall in release of GST Compensation for FY 2020-21. In addition to above, Centre has also released Rs. 28,000 crore (Rs. 14,000 crore to States and Rs. 14,000 crore to Centre) by way of adhoc settlement of IGST on 30th March’ 2021.

Taking into account the release of GST Compensation, back to back loan and adhoc IGST settlement, balance of only Rs. 63,000 crore approx. GST Compensation is pending to States/UTs for FY 2020-21.

The tables below show the State-wise GST compensation/ IGST Settlement released for the Financial Year 2020-21: –

Sl No. Name of State/UT GST compensation released on 27th March, 2021 (Rs. in crore)
1 Andhra Pradesh 742.4966
2 Assam 307.9853
3 Bihar 818.4947
4 Chhattisgarh 635.2455
5 Delhi 1748.0955
6 Goa 245.6173
7 Gujarat 2574.1625
8 Haryana 1020.4681
9 Himachal Pradesh 338.4121
10 J & K 418.6783
11 Jharkhand 461.3584
12 Karnataka 2970.1239
13 Kerala 1378.1551
14 Madhya Pradesh 1107.8935
15 Maharashtra 4446.3056
16 Meghalaya 41.9917
17 Odisha 785.8651
18 Puducherry 140.0184
19 Punjab 1707.4805
20 Rajasthan 1176.0441
21 Sikkim 3.7173
22 Tamil Nadu 2192.9325
23 Telangana 770.5828
24 Tripura 47.2235
25 Uttar Pradesh 2094.4929
26 Uttarakhand 516.9803
27 West Bengal 1309.1785
  Total 30000

 

State Code Name of the State / UT Adhoc IGST Settlement released on 30th March, 2021 (Rs. in crore )
1 Jammu and Kashmir 167
2 Himachal Pradesh 127
3 Punjab 523
4 Chandigarh 40
5 Uttarakhand 173
6 Haryana 532
7 Delhi 587
8 Rajasthan 600
9 Uttar Pradesh 1167
10 Bihar 441
11 Sikkim 9
12 Arunachal Pradesh 9
13 Nagaland 9
14 Manipur 12
15 Mizoram 7
16 Tripura 28
17 Meghalaya 22
18 Assam 209
19 West Bengal 703
20 Jharkhand 224
21 Odisha 386
22 Chhattisgarh 257
23 Madhya Pradesh 536
24 Gujarat 1009
25 Daman and Diu 23
26 Dadra and Nagar Haveli 27
27 Maharashtra 2115
29 Karnataka 1263
30 Goa 76
32 Kerala 588
33 Tamil Nadu 1041
34 Puducherry 38
35 Andaman & Nicobar Is. 4
36 Telangana 563
37 Andhra Pradesh 485
  Total 14,000

 

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