All GST compensation dues will be cleared: Finance Minister Nirm

All GST compensation dues will be cleared: Finance Minister Nirmala Sitharaman

Back To Homepage Subscribe To RSS Feed

Breaking News

NALCO observes Vigilance Awareness Week 2024 By Rupashree Banerjee Bhubaneswar, Nov. 4: National Aluminium Company Limited (NALCO), observed the Vigilance Awareness Week 2024 with the theme “Culture of Integrity for Nation’s Prosperity.” As part of the...
Elephant shot with arrows fighting for life in Odisha’s Cuttack Bhubaneswar, Nov. 3: A wild elephant is clinging to life in the Narsinghpur block of Cuttack after being gravely injured by arrows, likely from a poaching attempt. The wounded animal...
Celebrated swimmer Pratyasa Ray felicitated with 32nd Ekalabya Puraskar for 2024 By Payal Banerjee Bhubaneswar, Nov. 3: Odisha’s celebrated swimmer Pratyasa Ray was awarded the 32nd Ekalabya Puraskar for 2024 on Sunday evening in recognition of her outstanding performances at national...
Two women die, six in critical condition after consuming mango kernel dishes in Odisha Bhubaneswar, Nov. 1: Two women have died, and six others are in critical condition after allegedly consuming dishes made from mango kernels in Odisha’s Kandhamal district. The incident occurred in...
Odisha government imposes seven-month fishing ban to protect Olive Ridley turtles in Gahirmatha Bhubaneswar, Nov. 1: In a move to protect the endangered Olive Ridley sea turtles, Odisha’s government has implemented a seven-month fishing ban in the Gahirmatha Marine Sanctuary, spanning 1,437 square...

All GST compensation dues will be cleared: Finance Minister Nirmala Sitharaman

February 18

19:12 2023

Print This Article Share it With Friends

by indadmin

HI,FEB 18: The central government will clear the entire due on the pending balance of the GST compensation, including Rs 16,982 crore for the month of June, will be cleared as of Saturday, Union Finance Minister Nirmala Sitharaman announced.

Nirmala Sitharaman pointed out that the amount was not readily available in the compensation fund but the Union government decided to release it from its own resources.

“Although this amount is not really available in the compensation fund as of today, we have decided to release this amount from our own resources and the same amount will be recouped from the future compensation cess collection,” Nirmala Sitharaman said.

The Union minister said that with this release, the Centre would clear the entire provisionally admissible compensation cess dues for 5 years as envisaged in the GST (Compensation to States) Act, 2017.

The announcement came after the 49th meeting of the GST Council on Saturday, chaired by Union Finance Minister Nirmala Sitharaman.

-The India Today