Team Herald
PANJIM: The Central government on Thursday released a total of Rs 399.54 crore to the State as Goods and Services Tax (GST) compensation shortfall.
This release was under the back-to-back loan facility in lieu of GST compensation and is in addition to normal GST compensation being released every two months out of actual cess collection.
Under the five-year tenure, the GST compensation shortfall released to the State government was Rs 364.91 crore and under the two-year tenure, the amount released was Rs 34.63 crore.
On Thursday, the Union Ministry of Finance released Rs 75,000 crore released to States and Union Territories (UTs) with Legislature as GST Compensation shortfall. Almost 50 per cent of the total shortfall for the entire year was released in a single instalment, said the Ministry in a statement.
The Ministry added that it is expected that this release will help the States/UTs in planning their public expenditure among other things, for improving, health infrastructure and taking up infrastructure projects.
It may be recalled that on March 15, 2021, the Ministry had released the 20th Instalment of Rs 4,104 crore released to the States.
At that point of time it was revealed that the total amount of funds that had been raised for the Goa government by that point of time, through the special window passed on to the States/UTs, was Rs 840 crore.
