Rising KashmirRising KashmirRising Kashmir
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • National
  • Health
  • Anchor
  • Features
  • Interview
  • Video
  • Sports
Search

Archives

  • August 2025
  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Anchor
  • Breaking
  • Business
  • City
  • Developing Story
  • Editorial
  • Education
  • Features
  • Health
  • Interview
  • Jammu
  • Jammu and Kashmir News
  • Kashmir
  • Kashmir Tourism
  • Kath Bath
  • National
  • Opinion
  • Politics
  • SEO
  • Sports
  • Technology
  • Top Stories
  • Trending
  • Uncategorized
  • Video
  • Viewpoint
  • World
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Centre releases Rs 17,000 cr as GST compensation to States/UTs
Share
Notification Show More
Font ResizerAa
Rising KashmirRising Kashmir
Font ResizerAa
  • Home
  • Top Stories
  • News
  • National
  • Health
  • Anchor
  • Features
  • Interview
  • Video
  • Sports
Search
  • Top Stories
    • Developing Story
    • Anchor
    • Breaking
    • Business
    • Editorial
    • Education
    • Features
    • Health
    • Interview
  • More
    • National
    • Politics
    • Opinion
    • Technology
    • Sports
    • Trending
    • World
  • Kashmir
    • City
    • Jammu
    • Jammu and Kashmir News
    • Kashmir Tourism
    • Kath Bath
    • Video
    • Viewpoint
Follow US
© 2024. All Rights Reserved.
Rising Kashmir > Blog > Breaking > Centre releases Rs 17,000 cr as GST compensation to States/UTs
Breaking

Centre releases Rs 17,000 cr as GST compensation to States/UTs

ANI
Last updated: November 25, 2022 4:30 pm
ANI
Published: November 25, 2022
Share
3 Min Read
SHARE

The central government has released an amount worth Rs 17,000 crore to states and Union territories towards the balance GST compensation for the period April to June 2022.

The total amount of compensation released to the States/UTs so far, including thus Rs 17,000 crore, during the year 2022-23 is Rs 1,15,662 crore, the Ministry of Finance said in a statement on Friday. “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 States,” the statement added.

This decision was taken to assist the States in managing their resources and ensuring that their programmes especially the expenditure on capital is carried out successfully during the financial year.

“Even in May this year, the Central Government had released Rs. 86,912 crore as provisional GST compensation to States for the period Feb-May’2022 despite the fact that there was only about Rs. 25,000 crore in the GST Compensation Fund, by making arrangement of funds of around Rs. 62,000 crore from its own resources,” the statement said.

Goods and Services Tax was introduced in the country with effect from July 1, 2017 and states were assured for compensation for loss of any revenue arising on account of implementation of GST as per the provisions of the GST (Compensation to States) Act, 2017 for a period of five years.

For providing compensation to States, Cess is being levied on certain goods and the amount of Cess collected is being credited to Compensation Fund. Compensation to States is being paid out of the Compensation Fund with effect from July 1, 2017.

In other news, Union Finance Minister Nirmala Sitharman has chaired a pre-Budget meeting with the finance ministers of all States and Union Territories today for taking their inputs and suggestions for the upcoming Budget for 2023-24.

Besides Sitharaman and state/UT finance ministers, Union MoS for Finance Pankaj Chaudhary and Bhagwat Karad, secretaries from various arms of Union finance ministry, Chief Economic Advisor Anantha Nageswaran, among others attended the meeting.

The Budget for 2023-24 is likely to be tabled on February 1. Notably, it will be the last full Budget for Modi 2.0 government before the Lok Sabha elections to be held in April-May of 2024. (ANI)

EAM Jaishankar highlights role of innovation, technology in building Viksit Bharat at WAVES 2025
Tarun Chugh mourns martyrdom of four Army personnel in Doda encounter
New National Education Policy empowered youth, set new linkages with global institutions
Sat Pal Sharma elected J&K BJP President
Guwahati-bound IndiGo flight lands in Dhaka due to bad weather

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
Previous Article SEC prohibits conduct of exit poll in 2 DDC seats till Dec 5
Next Article Death toll in Indonesia earthquake rises to 310
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

1MFollowersLike
262kFollowersFollow
InstagramFollow
234kSubscribersSubscribe
Google NewsFollow

Latest News

“Pain of Pahalgam terror attack victim families weighed heavily on my heart”: PM Modi
Breaking National
August 2, 2025
LG Ladakh Kavinder Gupta meets PM Narendra Modi 
Breaking National
August 2, 2025
Sakeena Itoo lays foundation stone for 10 MVA Receiving Station at Manzgam Kulgam
Breaking Kashmir
August 2, 2025
71st National Film Awards Winners List
National SEO Top Stories
August 2, 2025

Recent Posts

  • “Pain of Pahalgam terror attack victim families weighed heavily on my heart”: PM Modi
  • LG Ladakh Kavinder Gupta meets PM Narendra Modi 
  • Sakeena Itoo lays foundation stone for 10 MVA Receiving Station at Manzgam Kulgam
  • 71st National Film Awards Winners List
  • Lieutenant Governor Manoj Sinha attends and addresses Chinar Book Festival at SKICC Srinagar

Recent Comments

  1. Raja Mani Khan on Minor Girl Dies in J&K’s Poonch Landslide
  2. Raja Mani Khan on Srinagar: People gather in big numbers to participate in Muharram procession
  3. Shah on Relief for Employees: J&K Bank Fixes EMI-Credit Mismatch, says JK Bank Chairman
  4. Latif khan on Why Kashmir needs Stronger Private Healthcare and Health Insurance
  5. Sameer farooq mir on Qazi Irfan assumes charge as RTO Kashmir

Contact Us

Flat No 7,Press Enclave, Srinagar, 190001
0194 2477887
9971795706
[email protected]
[email protected]

Quick Link

  • E-Paper
  • About Us
  • Contact Us

Top Categories

Stay Connected

1.06MLike
262.5kFollow
InstagramFollow
234.3kSubscribe
WhatsAppFollow
Rising KashmirRising Kashmir
Follow US
© 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?