₹ 9,062 cr GST compensation released to Tamil Nadu

CHENNAI: With the due amount of GST to Tamil Nadu being pending, the Central Government has allocated Rs 9,062 crore on Tuesday. So far the Centre has released Rs 86,912 crore in GST compensation to the states.

The Centre on Tuesday said that it has cleared the entire amount of GST compensation payable to states up to May 31, 2022 by releasing an amount of Rs 86,912 crore.

"This decision has been taken despite the fact that only about Rs 25,000 crore is available in the GST Compensation Fund. The balance is being released by the Centre from its own resources pending collection of cess," the ministry added.

With this release of Rs 86,912 crore, the ministry added that the compensation to states till May 2022 gets fully paid and only compensation for June 2022 would remain.

Are you in Chennai? Then click here to get our newspaper at your doorstep!