By Our Correspondent
NEW DELHI/BHUBANESWAR: Odisha gets Rs 5122 Crore as GST Compensation for FY-19-20. Central Government has recently released GST Compensation of Rs. 13,806 crore to States for March’2020.
Taking this amount into account, entire compensation upto 2019-20 has been released to States. The total amount of compensation released for the year 2019-20 is Rs. 1,65,302 crore whereas the amount of cess collected during the year 2019-20 was Rs. 95,444 crore.
To release the compensation for 2019-20, balance of cess amount collected during 2017-18 and 2018-19 was also utilised. In addition, Centre had transferred Rs. 33,412 crore from Consolidated Fund of India to the Compensation Fund as a part of an exercise to apportion balance of IGST pertaining to 2017-18.
