The Central government has released GST compensation of Rs 41.9917 crore to Meghalaya as part compensation admissible for financial year 2020-21.
In addition, the Centre also released the ad hoc Integrated GST Settlement amounting to Rs 22 crore to the State.
The Centre has released Rs 30,000 crore to the states as GST compensation on March 27, and about Rs 63,000 crore is pending for the current fiscal.
The total amount of GST compensation released so far this fiscal ending (March 31) is Rs 70,000 crore. This is over and above the Rs 1.10 lakh crore released to states under the special borrowing mechanism to compensate them for shortfall in the Goods and Services Tax (GST) collection this financial year.
In addition, the Centre has also settled Integrated GST (IGST) of Rs 28,000 crore, of which Rs 14,000 crore has been shared equally between states and the Centre.
“Taking into account the release of GST Compensation, back to back loan and ad hoc IGST settlement, balance of only Rs 63,000 crore approx GST Compensation is pending to states/union territories for FY 2020-21,” the Finance Ministry said.