Tribune News Service
New Delhi, July 27
The Centre on Monday launched Rs 13,806 crore in GST compensation to the states for March 2020.
It has thus paid up all the compensation as much as 2019-20. Punjab obtained Rs 12,187 crore, Himachal Rs 2,477 crore and Haryana Rs. 6,617 crore.
As the Centre was wanting funds, it used the steadiness quantity of cess collected throughout fiscals 2017-18 and 2018-19. It additionally dipped into the Consolidated Fund of India to switch Rs 33,412 crore to the Compensation Fund.
The complete quantity of compensation launched for the 12 months 2019-20 is Rs 1,65,302 crore whereas the quantity of cess collected was Rs 95,444 crore.
The launch of funds takes place forward of a particular assembly of the GST Council to deal with considerations on delay in compensation funds and lack of funds to satisfy future commitments to the states. Finance Minister Nirmala Sitharaman had stated on June 12 that it was her Constitutional obligation to convene a GST Council assembly this month.
However, with only a few days left for the month to finish, the assembly to think about whether or not to tax extra gadgets or hike tax charges as a way to improve revenues is prone to be held in August.