Central Government has recently released GST Compensation of Rs. 13,806 crore to States for March’2020. Taking this amount into account,
entire compensation upto 2019-20 has been released to States. The total amount of compensation released for the year 2019-20 is Rs. 1,65,302 crore
whereas the amount of cess collected during the year 2019-20 was Rs. 95,444 crore.
To release the compensation for 2019-20, balance of cess amount collected during 2017-18 and 2018-19 was also utilised. In addition, Centre had
transferred Rs. 33,412 crore from Consolidated Fund of India to the Compensation Fund as a part of an exercise to apportion balance of IGST pertaining
The table below shows the State-wise GST compensation released for the Financial Year 2019-20: –
|S.No||Name of State/UT||GST compensation released to States/Uts for FY
|10||J & K||3,281|