Centre releases Telangana's GST share amounting to Rs 296 crore

Hyderabad: The Centre released Rs 296 crore to Telangana under the Goods and Services Tax compensation on Tuesday.

The Centre released an amount of Rs 86,912 crores to cover the whole amount of GST compensation owed to states up to May 31, 2022.

✅ Centre clears entire GST Compensation of the amount ₹86,912 crore due to States till 31st May, 2022

✅ The amount will assist States in managing their resources and ensuring that their programmes, especially the Expenditure on capital, are carried out successfully pic.twitter.com/1H9KZX4TfC
— Ministry of Finance (@FinMinIndia) May 31, 2022

According to the Finance Ministry, “The central government has paid an amount of Rs 86,912 crore to cover the whole amount of GST compensation due to states until May 31, 2022. This decision was made to aid states in resource management and ensuring that their programs, particularly capital investment, are carried out throughout the fiscal year.”

The decision was made despite the fact that just Rs 25,000 crore was available in the GST Compensation Fund.