Goods and Services Tax – GST Dated:- 3-2-2021 – News – 14th Instalment of ₹ 6,000 crore released to the States to meet the GST compensation shortfall A total amount of ₹ 84,000 crore released so far to all States and UTs with legislature This is in addition to additional borrowing permission of ₹ 1,06,830 crore granted to the States The Ministry of Finance, Department of Expenditure has released the 14th weekly instalment of ₹ 6,000 crore to the States today 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. Till now, 76 per cent of the total estim
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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 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. State wise additional borrowing of 0.50 percent of GSDP allowed and amount of funds raised through special window passed on to the States/UTs till 01.02.2021 (Rs. in Crore) S
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3646.77 9 Himachal Pradesh 877 1438.79 10 Jharkhand 1765 827.55 11 Karnataka 9018 10396.53 12 Kerala 4,522 3153.48 13 Madhya Pradesh 4746 3806.03 14 Maharashtra 15394 10036.53 15 Manipur* 151 0.00 16 Meghalaya 194 93.79 17 Mizoram* 132 0.00 18 Nagaland*
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