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CST compensation to States: Centre to release Rs 5834 Crore before Mar 31

By TIOL News Service

NEW DELHI, MAR 24, 2017: PENDING introduction of GST in the Country, Union Cabinet in its meeting held on 17.03.2015, decided for payment of 100% CST compensation to the States/UTs for year 2010-11, 75% CST compensation for year 2011-12 and 50% CST Compensation for year 2012-13 to be worked out as per guideline dated 22.08.2008. Accordingly, full CST compensation for year 2010-11 and 2011-12 has been released to the States during FY 2014-15 & 2015-16. Rs.11709.4 cr. CST compensation is admissible to States/UTs for year 2012-13. Out of which 1st installment of CST compensation amount Rs.5854.73 cr. has been released to the States/UTs in July, 2016. Balance amount of Rs. 5854.69 cr. CST compensation for year 2012-13 is proposed to be released during current FY. This is the final payment of CST compensation to the States/UTs.

This was stated by Mr Santosh Kumar Gangwar, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha today.


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