Rs.170 billion released as GST compensation for states/UTS

The Ministry of Finance has released an amount of Rs.170 billion to states and union territories (UTs) towards the balance goods and services tax (GST) compensation for the period April to June 2022. With this, the government has released, in advance, the entire amount of cess estimated to be collected in 2022-23 available for payment of compensation to states. Nearly Rs.1.2 billion has been released as compensation during the fiscal so far. The ministry further stated that this is despite the fact that total cess collection till October 2022 was only Rs.721.5 billion. The balance of Rs.435.2 billion has been released by the Centre from its own resources.