The fund is used to compensate the states for revenue shortfall suffered due to roll out of the new indirect tax
The issue could become a major one at the GST Council meeting on December 17-18 in New Delhi
Sitharaman on Wednesday said the Centre was duty bound to safeguard the interest of states
Speaking to reporters after the meeting, Punjab Finance Minister Manpreet Singh Badal said, August and September compensation has not been released to states.
If states' GST revenue does not grow by at least 14%, the Centre pays them the difference, after every two months
States are indeed facing shortage in cash flow to run the administration and finance their schemes, as well as capital spending
Central govt official says will release funds before end of this month
The government collected a record Rs 1007.1 billion from Goods and Services Tax (GST) in the month of October
As per the Budget estimates, over Rs 9.26 trillion was to be collected from indirect taxes
States will get full compensation for the first five years of GST roll-out