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GST - Centre disburses Rs 165302 Cr as Compensation Cess

By TOG News Service
Jul 28, 2020 , New Delhi

TOG NEWS SERVICE, NEW DELHI, JULY 28, 2020: THE Central Government has recently released GST Compensation of Rs. 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 Rs. 1,65,302 crore whereas the amount of cess collected during the year 2019-20 was Rs. 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 Rs. 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.