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Govt. Releases Rs. 8,600 cr. to States as GST Compensation
October 31, 2017
The union government has disbursed Rs. 8,698 crores of funds to the states as a compensation for the GST-related losses. Only two states i.e. Arunachal Pradesh and Rajasthan have not been compensated for the period of July-August, unlike others. While the former couldn’t file the claims, for the latter the reason is unclear/unavailable.
Bihar Deputy Chief Minister Sushil Modi said that the funds make for 58% of the total cess revenue of Rs. Rs 15,060 crore in the two months after the implementation of GST.
