Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Centre released Rs 15,340 crore as GST compensation for 2020-21: Sources.

Date: 21-05-2020
Subject: Centre released Rs 15,340 crore as GST compensation for 2020-21: Sources
The central government has released Rs 15,340 crore to states and union territories (UTs) in the current fiscal year 2020-21 as Goods and Services Tax (GST) compensation, despite an almost insignificant collection due to relief provided in terms of filing of return and payment of taxes owing to lockdown.

"Earlier, in the FY 2019-20, the central government had released Rs 120,498 crore GST compensation to states and UTs while it had collected only about Rs 95,000 crore in the form of compensation cess," government sources said.

In FY 2017-18 a total GST compensation cess of Rs 62,611 crore was collected, out of which a sum of Rs 41,146 crore was released to the states and UTs as GST compensation.

In the FY 2018-19, Rs 95,081 crore was collected as GST compensation cess, out of which Rs 69,275 crore was released to the states and UTs as GST compensation.

According to government sources, as per the releases of the finance ministry, as on 31st March 2019 Rs 47,271 crore GST compensation cess was collected had remained unutilized after the release of GST compensation to the states and UTs in the FYs 2017-18 and 2018-19.

Since the last release of GST compensation cess to the states and UTs made in February 2020 of Rs 19,950 crore for the months of October and November,, the Centre released a total of Rs 120,498 crore for FY 2019-20.

"Thereby, compensation till the bimonthly period of Oct-Nov, 2019 has been paid for all states and no state has been paid compensation for any period beyond that without any discrimination between states," sources said.

Source:- moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 23-11-2020
A.P. (DIR Series) Circular No. 07
Establishment of Branch Office (BO) / Liaison Office (LO) / Project Office (PO) or any other place of business in India by foreign law firms

Date: 20-11-2020
Circular No.51/2020-Customs
Clarifications regarding availment of exemption on temporary import of durable Containers - reg.

Date: 19-11-2020
Notification No. 60/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 19-11-2020
Notification No. 61/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 19-11-2020
Notification No. 38/2020 -Customs (ADD)
Seeks to further amend notification No. 56/2015-Customs (ADD) dated 4th Dec, 2015 to extend the levy of Anti-Dumping duty on Phthalic Anhydride originating in or exported from Japan and Russia, up to and inclusive of 31st Jan, 2021.

Date: 19-11-2020
Notification No. 108/2020 - Customs (N.T.)
Exchange rate Notification No.108/2020-Cus (NT) dated 19.11.2020

Date: 18-11-2020
Instruction No.19/2020-Customs
Imports from North Korea (KP)/Exports to North Korea(KP) – reg

Date: 17-11-2020
Notification No. 58/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 17-11-2020
A.P. (DIR Series) Circular No. 06
Foreign Exchange Management Act, 1999 (FEMA)- Compounding of Contraventions under FEMA, 1999

Date: 14-11-2020
Circular No 1075/01/2020-CX
Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (Removal of Difficulties) order 2020 dated 13th Nov.,2020- procedure for filing of declaration by the eligible declarant in the UT of J & K and UT of Ladakh and its verification thereafter, etc. - reg.

Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001