Centre Released ₹ 1,65,302 Crore as GST Compensation to States/UTs for the FY 2019-20 against cess collection of ₹ 95,444 crore

Central Government has recently released GST Compensation of ₹ 13,806 crore to States for March’2020. Taking this amount into account, entire compensation upto 2019-20 has been released to States. The total amount of compensation released for the year 2019-20 is ₹ 1,65,302 crore whereas the amount of cess collected during the year 2019-20 was ₹ 95,444 crore.

To release the compensation for 2019-20, balance of cess amount collected during 2017-18 and 2018-19 was also utilised. In addition, Centre had transferred ₹ 33,412 crore from Consolidated Fund of India to the Compensation Fund as a part of an exercise to apportion balance of IGST pertaining to 2017-18.

The table below shows the State-wise GST compensation released for the Financial Year 2019-20: -