Government of India has decided to clear the entire pending balance GST compensation of ₹16,982 crore for June 2022.
Since, there is no amount in the GST compensation Fund, Centre decided to release this amount from its own resources and the same will be recouped from the future compensation cess collection. With this release, Centre would clear the entire provisionally admissible compensation due for five years as envisaged in the GST (Compensation to States) Act 2017.
In addition, Centre would also clear the admissible final GST compensation to those States who has provided the revenue figures as certified by the Accountant General of the States amounting to ₹16,524 crore.
Maharashtra will receive the highest amount of ₹2102 crore. Karnataka will get a ₹1934 crore and Tamil Nadu will get ₹1201 crore.
(Published from PIB)
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