Goods and Services Tax – GST Dated:- 20-2-2021 – News – GST compensation shortfall released to States reaches ₹ 1 lakh crore 17th Instalment of ₹ 5,000 crore released to the States on Friday, 19th February, 2021. 91 percent of the estimated shortfall released. The Ministry of Finance, Department of Expenditure has on Friday, released the 17 th weekly instalment of ₹ 5,000 crore to the States to meet the GST compensation shortfall. Out of this, an amount of ₹ 4,730.41 crore has been released to 23 States and an amount of ₹ 269.59 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, 91 percent of the total estimated GST compensation shortfall has been released to the States
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
6 States and 2 UTs. These States/ UTs were onboard for GST compensation release from the 1 st Installment. The amount released this week was the 17 th instalment of such funds provided to the States. The amount has been borrowed this week at an interest rate of 5.5924%. So far, an amount of ₹ 1,00,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.8307%. 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 (0.5
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
1869 956.04 4 Bihar 3231 3755.77 5 Chhattisgarh 1792 2143.75 6 Goa 446 807.89 7 Gujarat 8704 8869.60 8 Haryana 4293 4185.66 9 Himachal Pradesh 877 1651.39 10 Jharkhand 1765 1164.60 11 Karnataka 9018 11932.82 12 Kerala 4,522 4304.12 13 Madhya
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Nadu 9627 6002.53 24 Telangana 5017 1940.95 25 Tripura 297 217.34 26 Uttar Pradesh 9703 5777.46 27 Uttarakhand 1405 2227.49 28 West Bengal 6787 3307.51 Total (A): 106830 91460.34 1 Delhi Not applicable 5640.89 2 Jammu Kashmir Not applicable 2185.16 3 Puducherry Not applicable
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =