New Delhi: The Union authorities has stated that Rs 81179 crore of GST arrears are as a consequence of states and Union Territories for the monetary 12 months 2020-21. The Central Authorities has knowledgeable the Parliament that a further quantity of `55345 crore is due for the present monetary 12 months. In accordance with Union Minister of State for Finance Pankaj Chaudhary, Rs 91,000 crore has been allotted to the states and Union Territories for GST compensation, a part of which is partial compensation for the final monetary 12 months.
The federal government stated the prevailing GST compensation fund was insufficient. Pankaj Chaudhary stated that the states and the Union Territories should pay extra for compensation as a consequence of Covid. The Central Authorities was replying in writing to the query relating to GST compensation.
The Middle had yesterday sanctioned Rs 75,000 crore as GST compensation to the States and Union Territories.
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