The Central Government released an amount of Rs 524 crore to Odisha towards balance GST compensation for the period from April to June. In fact, the Union Government has released Rs 17,000 crore to States and Union Territories (UT)s on November 24. The total amount of compensation released to the States/UTs so far during the year 2022-23 is Rs 1,15,662 crore.
This is despite the fact that total Cess collection till October, 2022 is only Rs 72,147 crore and the balance of Rs 43,515 crore is being released by the Centre from its own Resources.With this release, the Centre has released, in advance, the entire amount of Cess estimated to be collected this year till March-end available for payment of compensation to the States.