Goods and Services Tax – GST Dated:- 15-3-2021 – News – The Ministry of Finance, Department of Expenditure has released the final weekly instalment of ₹ 4,104 crore to the States to meet the GST compensation shortfall. Out of this, an amount of ₹ 4,086.97 crore has been released to 23 States and an amount of ₹ 17.03 crore has been released to the 3 UTs with Legislative Assembly. With the current release, 100 percent of the total estimated GST compensation shortfall of ₹ 1.10 lakh crore for the year 2020-21 has now been released to the States UTs with Legislative Assembly. Out of this, an amount of ₹ 101,329 crore has been released to the States and an amount of ₹ 8,879 crore has been released to the 3 UTs with Legislative Assembly. The Government of India had set up a special borrowing window in October, 2020 to meet the estimated shortfall of ₹ 1.10 Lakh crore in revenue arising on account of implementation of GST. The borrowings ar
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average interest rate of 4.8473%. 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
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Haryana 4293 4352.00 9 Himachal Pradesh 877 1717.00 10 Jharkhand 1765 1689.00 11 Karnataka 9018 12407.00 12 Kerala 4,522 5766.00 13 Madhya Pradesh 4746 4542.00 14 Maharashtra 15394 11977.00 15 Manipur* 151 0.00 16 Meghalaya 194 112.00 17 Mizoram* 132 0.00 18 Nagaland* 157 0.0
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