Goods and Services Tax – GST Dated:- 12-2-2021 – News – 15th Instalment of ₹ 6,000 crore released to the States to meet the GST compensation shortfall. A total amount of ₹ 90,000 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 15 th 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, 81 percent of th
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average interest rate of 4.7921%. 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 a
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Gujarat 8704 8229.50 8 Haryana 4293 3883.70 9 Himachal Pradesh 877 1532.27 10 Jharkhand 1765 919.50 11 Karnataka 9018 11071.99 12 Kerala 4,522 3467.40 13 Madhya Pradesh 4746 4053.31 14 Maharashtra 15394 10688.59 15 Manipur* 151 0.00 16 Meghalaya 194 99.89
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27 Uttarakhand 1405 2067.00 28 West Bengal 6787 2664.52 Total (A): 106830 82132.76 1 Delhi Not applicable 5233.87 2 Jammu Kashmir Not applicable 2027.43 3 Puducherry Not applicable 605.94 Total (B): Not applicable 7867.24 Grand Total (A+B) 106830 90000.00 * These States have NIL GST compensation gap – News – Press release – PIB Tax Management India – taxmana
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