Centre releases ₹17,000-crore GST compensation to States

Centre releases ₹17,000-crore GST compensation to States: The Centre released ₹17,000 crore to states towards the balance of Goods and Services Tax (GST) compensation. This takes the total amount released so far in the fiscal year to over ₹1.15 lakh crore.

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“With this, the Centre has released in advance the entire amount of cess estimated to be collected this year till March-end available for payment of compensation to states,” the ministry said in a statement. This is despite the fact that total GST cess collection till October 2022 was only ₹72,147 crore. And, the balance of ₹43,515 crore is being released by the Centre from its own resources.