The CST Compensation to the states to be released soon in this Financial Year, said Minister of State in the Ministry of Finance Santosh Kumar Gangwar.
Pending introduction of GST in the Country, Union Cabinet in its meeting held on 17.03.2015, decided for payment of 100% CST compensation to the States/UTs for year 2010-11, 75% CST compensation for year 2011-12 and 50% CST Compensation for year 2012-13 to be worked out as per guideline dated 22.08.2008. Accordingly, full CST compensation for year 2010-11 and 2011-12 has been released to the States during FY 2014-15 & 2015-16. Rs.11709.4 cr. CST compensation is admissible to States/UTs for year 2012-13. Out of which 1st installment of CST compensation amount Rs.5854.73 cr. has been released to the States/UTs in July, 2016. Balance amount of Rs. 5854.69 cr. CST compensation for year 2012-13 is proposed to be released during current FY. This is the final payment of CST compensation to the States/UTs.
This was stated by Santosh Kumar Gangwar, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha today.