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The Hindu
The Hindu
National
PTI, Special Correspondent

GST shortfall: ₹1 lakh crore released so far

The Centre has now transferred ₹1 lakh crore to States on account of GST compensation shortfalls for the year, the finance ministry said on Saturday.

These funds have been raised through a special borrowing window set up in October 2020 to meet the estimated shortfall of ₹1.10 lakh crore in revenue for States on account of implementation of GST.

Till now, 91% of the total estimated GST compensation shortfall has been released to States and Union Territories with Legislative Assembly. Out of this, an amount of ₹91,460.34 crore has been released to the States and an amount of ₹8,539.66 crore has been released to the 3 UTs with Legislative Assembly,” the ministry said.

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