In a major relief to the States waiting for the disbursal of GST compensation, the central government has released Rs 17,000 crore, including Rs 814 crore to Bengal, taking the total amount released this fiscal to over Rs 1.15 lakh crore, the finance ministry said on Friday.
The central government has released the amount on November 24 towards the balance GST compensation for the period April to June 2022.
“This is even though total cess collection till October is only Rs 72,147 crore and the balance of Rs 43,515 crore is being released by the Centre from its resources,” the ministry said.
Chhattisgarh minister T.S. Singh Deo and GST Council member told The Telegraph that “about Rs 1,375 crore is still pending from the Centre as compensation sum after the latest released amount. No date has been given for the next Council meeting, but, the release of the compensation seems to suggest it would be held after the Gujarat polls next month”.
Meghalaya chief minister Conrad Sangma said the state finance ministers’ panel for GST levy on casinos, online gaming and horse racing will submit its report to the GST Council next week.
In the pre-budget consultation with Nirmala Sitharaman, the state finance ministers have stepped up their demand for more funds, greater say in centrally-sponsored schemes and more royalty on minerals.
The GST Council will discuss these issues on 17th December 2022, in its 48th meeting.
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