Goods and Services Tax – GST Dated:- 11-1-2021 – News – 11th Instalment of ₹ 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall A total amount of ₹ 66,000 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 11 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, 60 percent of the estimated GST compensat
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was the 11 th instalment of such funds provided to the States. The amount has been borrowed this week at an interest rate of 5.1057%. So far, an amount of ₹ 66,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.7271%. 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-I to 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 am
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3231 2634.14 5 Chhattisgarh 1792 1015.56 6 Goa 446 566.58 7 Gujarat 8704 6221.22 8 Haryana 4293 2935.98 9 Himachal Pradesh 877 1158.35 10 Jharkhand 1765 551.70 11 Karnataka 9018 8370.15 12 Kerala 4,522 2211.72 13 Madhya Pradesh 4746 3064.19 14
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Telangana 5017 1077.30 25 Tripura 297 152.70 26 Uttar Pradesh 9703 4052.45 27 Uttarakhand 1405 1562.64 28 West Bengal 6787 1699.60 Total (A): 106830 60066.36 1 Delhi Not applicable 3956.63 2 Jammu Kashmir Not applicable 1532.67 3 Puducherry Not applicable 444.34 Total (B): Not applicab
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