Quick Summary
The Central Government released an amount of Rs. 17,000 crore to States/UTs on 24.11.2022 towards the balance GST compensation for the period April to June, 2022 (State-wise details as per Table below). The total amount of compensation released to the States/UTs so far, including the aforesaid amount, during the year 2022-23 is Rs.1,15,662 crore. This is despite the fact that total Cess collection till October, 2022 is only Rs.72,147 crore and the balance of Rs.43,515 crore is being released
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FAQ :
The Centre has released £17,000 million in GST compensation to States and UTs.
This release covers the balance GST compensation for the period of April to June 2022.
The total amount of compensation released to States/UTs during the year 2022-23, including this latest payment, is £115,662 million.
No, the Centre is releasing a portion of the compensation from its own resources because the total cess collection till October 2022 was only £72,147 million, which is less than the compensation amount.
The decision was taken to assist the States in managing their resources and ensuring that their programmes, especially capital expenditure, are carried out successfully during the financial year.
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