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The finance minister said that GST (Compensation to States) Act, 2017 provides for the compensation to States or UT (UT with legislature only) on account of revenue loss. The payment will be done on a bi-monthly basis. The Centre will release all due GST compensation to states in 2 instalments.
The minister said a total of ₹2,10,969.49 crores has been released as GST compensation to states till this date, including Delhi and Puducherry. The amount had been released after implementation of GST with effect from 1st July 2017.
The details of GST compensation released by the government is as follows :
July 2017 to March 2018 – ₹48,785.35 crore; April 2018 to March 2019 – ₹81,141.14 crore; April to May 2019 – ₹17,789 crore; June to July 2019 – ₹27,956 crore; August to September 2019 – ₹35,298 crores.