Centre releases ₹17,000 cr. in GST compensation dues to States

The Centre released GST compensation dues of ₹17,000 crore to States on Wednesday, taking the total compensation paid out from GST cess collections so far this year to ₹60,000 crore. States have already been disbursed ₹1,59,000 crore in lieu of this year’s GST compensation, as back-to-back loans to States through market borrowings. The Finance Ministry, which pays out GST compensation to States from cess collections every two months, had estimated that ₹1 lakh crore will be collected as GST cess this year.

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