Wait...

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
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 03-05-2021
Ad hoc Exemption Order No. 4/2021-Customs
Seeks to exempt IGST on imports of specified COVID-19 relief material donated from abroad, up to 30th June, 2021.

Date: 01-05-2021
Notification No. 30/2021-Customs
Seeks to reduce IGST on Oxygen Concentrators when imported for personal use.

Date: 30-04-2021
Notification No. 45/2021-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 30-04-2021
Notification No. 29/2021-Customs
Seeks to amend notification No. 27/2021-Customs to exempt customs duty on import of specified Inflammatory Diagnostic (markers) kits, up to 31st October, 2021.

Date: 29-04-2021
A.P. (DIR Series) Circular No.02
Exim Bank's Government of India supported Line of Credit (LoC) of USD 250 million to the Government of the Republic of Mozambique

Date: 27-04-2021
Notification No. 26/2021-Customs (ADD)
Seeks to impose definitive anti-dumping duty on import of 1-phenyl-3-methyl-5-Pyrazolone originating in or exported from China PR for a period of 5 years from the date of imposition of provisional ADD, i.e. 9th June, 2020.

Date: 26-04-2021
Notification No. 2/2015-2020
Amendment in import policy and incorporation of a Policy Condition under HS Code 85167920 and 85167990 of Chapter-85 of ITC (IIS), 2017, Schedule-I (Import Policy).

Date: 26-04-2021
Notification No. 3/2015-2020
Amendment in import policy of Melon Seeds - Other under HS Code 12077090 of Chapter-12 of ITC (HS), 2017, Schedule-I (Import Policy).

Date: 26-04-2021
Public Notice No. 2/2015-2020
Amendment in Appendix 2E (List of agencies to issue Certificate of Origin-Non Preferential) regarding change in address of Bharat Chamber of Commerce for Certificate of Origin (Non-Preferential)

Date: 26-04-2021
Trade Notice No. 02/2021-2022
Operationalisation of DGFT 'COVID-19 Helpdesk' for International Trade related Issues'



Exim Guru Copyright © 1999-2021 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.

EximGuru.com

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