Government releases Rs 35,298 crores GST compensation to states

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Facing heat over delay in compensation, the government today released Rs 35,298 crore to states.  The matter was likely to be taken up in the upcoming GST Council meeting where states, especially the Opposition-ruled ones, expected to try and pin the Centre down over the delay in the release of compensation. Speaking at the Indian Economic Conclave event of the Times Network, finance minister Nirmala Sitharaman, today, acknowledged the delay in payment of compensation on account of shortfall in GST collection.

She said that the government at the Centre and the states are working to augment the GST revenue. She said that the shortfall is due to extension granted in filing of returns to flood-hit states and slowdown in consumption faced by certain sectors. The GST Council will meet on December 18 where it will take up the matter of falling GST revenue.

Read More at: https://economictimes.indiatimes.com/news/economy/policy/government-releases-rs-35298-crores-gst-compensation-cess-to-states/articleshow/72751701.cms

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