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Centre to release GST dues to all states in 2 installments

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Union Minister of State for Finance and Corporate Affairs Anurag Thakur gave the answer in Lok Sabha on Monday several MPs from Telangana and Odisha griped during Question Hour that their states were not getting the share of the GST and Integrated Goods and Service Tax (IGST).

Only two days after presenting the Budget for Financial Year 2020-21, the Central government on Monday (February 3, 2020) declared that it will release all due Good and Services Tax (GST) compensation to all the states in two installments. Union Minister of State for Finance and Corporate Affairs Anurag Thakur gave the reply in Lok Sabha on Monday after a few MPs from Telangana and Odisha griped during Question Hour that their states were not getting the share of the GST and Integrated Goods and Service Tax (IGST).

“All due GST compensation will be given to states in two installments,” Anurag Thakur replied. The minister said GST (Compensation to States) Act, 2017 provides for compensation to States/UTs (UT with legislature only) on account of revenue loss due to implementation of GST on a bi-monthly basis. Accordingly, he said, the states have been paid GST compensation on a bi-monthly basis with effect from July 2017.

Thakur said the GST Compensation has been released till September 2019 and the next bi-monthly GST Compensation is due for October-November, 2019. The minister said a total of Rs 2,10,969.49 crore has been released as GST compensation to states so far including UTs of Delhi and Puducherry after implementation of GST with effect from July 1, 2017.

Period for which compensation has been released: July, 2017 March 2018 – Rs 48,785.35 crore; April 2018 March 2019 – Rs 81,141.14 crore; April May 2019 – Rs 17,789 crore; June July 2019 – Rs 27,956 crore; Aug Sept 2019 – Rs 35,298 crore.

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