 "GST")
The Centre may release about Rs 35,000 crore to states as goods and service tax (GST) arrears by September-end, Business Standard has learnt, taking the compensation for the year (FY23) to Rs 1.2 trillion.
“We have so far released Rs 85,000 crore in arrears this year and will soon release around Rs 35,000 crore more for June,” a top government official said.
According to the GST (Compensation to States) Act, states won’t get GST compensation beyond June 2022. However, the compensation cess will continue to be levied on certain items in the 28 per cent bracket till March 2026. This
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