The central government released Rs 17,000 crore to the states and union territories under theGSTcompensation of which Rs 543 crore was given toAndhra Pradesh. The amount was released on November 3 for the financial years 2017-18 to 2019-20, Union minister of state for financePankaj Chaudharysaid in the Rajya Sabha.
The MP also wanted to know whether the central government had any plans to extend the GST compensation beyond 2022. The minister told the members that the central government has also released 1,13,464 crore to the states and union territories towards GST compensation for the period of April 2020 to March 2021.
As per the GST council’s decision, 1.1 lakh crore for 2020-21 and 1.59 lakh crore for 2021-22 was also released to the states and the union territories “as back to back loans” to meet the Resources of the states due to the shortfall in GST compensation.