Days after releasing the balance Rs 44,000 crore to states as loan to compensate for the goods and services tax (GST) shortfall, Union Finance Ministry announced it has released GST Compensation of Rs. 17,000 crore to States on November 3.
With this, the total amount of compensation released to the States and UTs so far -- including the aforesaid amount during the FY2021-22 -- is Rs. 60,000 crore.
"As per the decision of GST Council, back to back loan of Rs 1.59 lakh crore has already been released in lieu of shortfall in release of GST Compensation during the current financial year," the Finance Ministry said in a press release.
According to the details, Maharashtra will receive the highest GST compensation of Rs 3053.6 crore, followed by Karnataka (Rs 1602.06 crore), Gujarat (Rs 1428.42 crore), Tamil Nadu (Rs 1314.42 crore), and Delhi (Rs 1155.09 crore). States like West Bengal will receive Rs 771.82 crore, while Punjab will get Rs 834.83 crore.
Among the state which will not receive any GST compensation include Mizoram, Nagaland, Manipur and Arunachal Pradesh, said the release.
Earlier on October 28, the government released the balance Rs 44,000 crore to states as loan to compensate for the GST shortfall, taking the total such amount to Rs 1.59 lakh crore this fiscal. The ministry had on July 15 and October 7 released Rs 75,000 crore and Rs 40,000 crore, respectively, to the states.
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