The total amount of compensation released to the states so far, including the aforesaid amount, during 2022-23 is Rs 1,15,662 crore, official sources said.
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.
According to the Union Ministry of Finance, Maharashtra received the highest amount of GST compensation at Rs 2,081 crore followed by Karnataka at Rs 1,915 crore, Uttar Pradesh at Rs 1,202 crore, Delhi Rs 1,200 crore and Tamil Nadu Rs 1,188 crore. Odisha received Rs 524 crore GST compensation.
With this, Government 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 finance ministry said in a statement.
This decision was made 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.
(With inputs from IANS)