Goods and Services Tax – GST Dated:- 4-1-2021 – News – 10th Instalment of ₹ 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of ₹ 60,000 crore released so far to all States and UTs with legislation This is in addition to additional borrowing permission of ₹ 1,06,830 crore granted to the States The Ministry of Finance has released the 10 th weekly instalment of ₹ 6,000 crore to the States to meet the GST compensation shortfall. Out of this, an amount of ₹ 5,516.60 crore has been released to 23 States and an amount of ₹ 483.40 crore has been released to the 3 Union Territories (UT) with Legislative Assembly (Delhi, Jammu Kashmir Puducherry) who are members of the GST Council. The remaining 5 States, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation. Now, more than 50 percent of the estimated GST
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ed by the Central Government through the special borrowing window at an average interest rate of 4.6892%. In addition to providing funds through the special borrowing window to meet the shortfall in revenue on account of GST implementation, the Government of India has also granted additional borrowing permission equivalent to 0.50 % of Gross States Domestic Product (GSDP) to the states choosing Option-Ito meet GST compensation shortfall to help them in mobilising additional financial resources. All the States have been given their preference for Option-I. Permission for borrowing the entire additional amount of ₹ 1,06,830 crore (0.50 % of GSDP) has been granted to 28 States under this provision. The amount of additional borrowing permission granted to 28 States and the amount of funds raised through special window and released to the States and Union Territories so far is annexed.
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446 520.85 7 Gujarat 8704 5719.15 8 Haryana 4293 2699.05 9 Himachal Pradesh 877 1064.87 10 Jharkhand 1765 459.75 11 Karnataka 9018 7694.69 12 Kerala 4,522 1897.80 13 Madhya Pradesh 4746 2816.91 14 Maharashtra 15394 7428.29 15 Manipur* 151 0.00 16 Meg
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sh 9703 3725.41 27 Uttarakhand 1405 1436.55 28 West Bengal 6787 1458.37 Total (A): 106830 54549.76 1 Delhi Not applicable 3637.32 2 Jammu Kashmir Not applicable 1408.98 3 Puducherry Not applicable 403.94 Total (B): Not applicable 5450.24 Grand Total (A+B) 106830 60000.00 * These States have NIL GST compensation ga
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