New Delhi: The states and union territories struggling with economic problems due to corona virus epidemic and lockdown have given great relief and released GST compensation of Rs 36 thousand 400 crore. An official statement said that the outstanding GST for the period from December 2019 to February 2020 has been released.
Let us know that due to the lockdown imposed to prevent infection of Corona virus, operations stopped and the revenue of the states came down completely. At the same time, the expenditure for dealing with the epidemic also increased, due to which many states faced a difficult situation. Meanwhile, many states had demanded financial support from the Center, while several states had raised the issue of releasing GST compensation in a meeting with PM Modi.
The central government has already released GST compensation of Rs 1 lakh 15 thousand 96 crore to the states between April-November 2019. Earlier, the Central Government had released a total GST compensation of 69 thousand 275 crore to the states for 2018-19, while in 2017-18, the Center had given GST compensation of 41 thousand 146 crore to the states.
In a statement issued on Thursday, the Finance Ministry said that after reviewing the situation arising out of the corona virus, the ash has been released keeping in view the difficulties faced by the States in resource for expenditure
