New Delhi: The Central Government released an amount of Rs. 17,000 crores to States/UTs on 24.11.2022 towards the balance GST compensation for the period April to June 2022. Odisha received Rs 524 Crore as GST Compensation.
The total amount of compensation released to the States/UTs so far, including the aforesaid amount, during the year 2022-23 is Rs.1,15,662 crore.
This is despite the fact that the total Cess collection till October 2022 is only Rs.72,147 crore and the balance of Rs. 43,515 crores is being released by the Centre from its own resources. With this release, the Centre has released, in advance, the entire amount of Cess estimated to be collected this year till March-end available for payment of compensation to States. This decision was taken to assist the States in managing their resources and ensuring that their programmes especially the expenditure on capital is carried out successfully during the financial year.
Even in May this year, the Central Government had released Rs. 86,912 crores as provisional GST compensation to States for the period Feb-May’2022 despite the fact that there was only about Rs. 25,000 crores in the GST Compensation Fund, by making arrangement of funds of around Rs. 62,000 crores from its own resources.
State-wise details as per Table below:-
|Name of the State/UT||(Rs. in crore)|
|Jammu and Kashmir||208|