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₹34,000 crore GST compensation to states soon

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NEW DELHI : In a bid to provide further relief to states amid the coronavirus outbreak, the finance ministry is planning to soon release another about ₹34,000 crore to states as compensation for their revenue loss in the goods and services tax (GST) regime.

States, so far, have been paid pending dues till November and the remaining will be cleared in phases soon, sources said. The finance ministry cleared about ₹34,000 crore pending GST compensation for October and November in two tranches.

The first tranche of ₹19,950 crore was released on February 17, while the remaining amount of ₹14,103 crore was distributed to states and Union territories on Tuesday, sources added.

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