New Delhi : Following demands by several states including Punjab, Rajastan, Maharastra, the central government on Thursday released Rs. 36,400 Crore as GST compensation.
“Taking stock of the current situation due to COVID-19 where State Governments need to undertake expenditure while their resources are adversely hit, the Central Government has release the GST Compensation of Rs.36,400 crore to the States/UTs with Legislature for the period from December, 2019 to February, 2020 today. The GST Compensation of Rs.1,15,096 crore for period April-November, 2019 had already been released by the Central Government to the States/ UTs with Legislature” said a government statement.
Amid the corona virus pandemic and prolonged lockdown, several states are struggling with rising expenses and declining revenue. Release of GST compensation will help states to meet their rising expenses.