96% of GST compensation shortfall to states released so far, shows data


3 months ago

By Administrator_India

Capital Sands

The Centre on Monday transferred Rs 2,104 crore in the 19th installment of goods and services tax (GST) compensation shortfall to states and Union Territories (UTs), which is about 96 per cent of the estimates.

The total amount released so far stands at Rs 1.06 trillion of the Rs 1.1-trillion shortfall estimated under the special borrowing window, put in place in October 2020.

While the states have received Rs 97,242.03 crore, three UTs — Delhi, Puducherry, and Jammu and Kashmir — have got Rs 8,861.97 crore. Under the special window, the Centre has been borrowing in Government Stock with a tenure of three years and five years on behalf of states.

With the current release, the proportionate pending GST shortfall with respect to borro­wing under five-year tenor has been concluded for 23 states and three UTs with legislature.

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