GST Dept will Not file Appeal Against Supreme Court Decisionfor restoring IGST on Ocean Freight: CBIC
November 26, 202248th GST Council Meeting will be held on 17th December
November 29, 2022
GST Compensation to States: Central Govt releases Rs. 17 crores
The central government released the amount of Rs. 17,000 crores to States/UTs on November 24 towards the balance GST compensation for the period April to June 2022. The total amount of payment released to the States/UTs so far, including the amount mentioned above, during the year 2022-23 is Rs.1,15,662 crore.
“This is even though total cess collection till October is only Rs 72,147 crore and the balance of Rs 43,515 crore is being released by the Centre from its resources,” the ministry said.
The government’s this decision was taken to assist the States in managing their resources and ensuring that their programs especially the expenditure on capital is carried out successfully during the financial year, revealed the Ministry of Finance
The Centre, with this release, has released the entire amount of Cess estimated to be collected in 2022 till March-end available for payment of compensation to States in advance.
