The Center will release ₹ 30,000 crore as GST compensation to the states this month, from the collection of compensation cess during the year, Finance Minister Nirmala Sitharaman informed the Lok Sabha.
The minister said that the amount of compensation pending to the states for 2020-21, is expected to be more than 77,000 crores.
He said, “GST compensation due to the states from April 2020 to January 2021 is Rs 44,17,844 crore, and the back-to-back loan issued to the states to meet the shortfall of compensation is ₹ 1,10,208 crore,” He said,
“So, in FY2020-21, the compensation potential due to states and union territories is likely 77,636 crore,” she said.
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