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Government to release all due GST compensation to states in two installments

"All due GST compensation will be given to states in two installments," Thakur said.

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Two days after releasing the GST collections data for January, the Centre on Monday announced that it will release all due GST compensation to states.

Union Minister of State for Finance and Corporate Affairs Anurag Thakur made the announcement in Lok Sabha MPs from Telangana and Odisha complained during Question Hour that their states were not getting the share of the Goods and Services Tax (GST) and Integrated Goods and Service Tax (IGST).

"All due GST compensation will be given to states in two installments," Thakur said, adding that 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.

The minister also informed that 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, 2017March 2018 - Rs 48,785.35 crore; April 2018March 2019 - Rs 81,141.14 crore; AprilMay 2019 - Rs 17,789 crore; June July 2019 - Rs 27,956 crore; AugSept 2019 - Rs 35,298 crore.

On Friday, the government had reportedly announced that GST collection has crossed the Rs 1 lakh crore mark, the third month in a row with improved compliance and plugging of evasion.

According to provisional numbers, total GST revenue was Rs 1.1 lakh crore in January, a PTI report quoting sources said. 

(With PTI inputs)

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