TaxTMI 
TaxTMI 
6th Instalment of 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall
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....th Instalment of 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall <br>GST<br>Dated:- 9-12-2020<br><BR>6th Instalment of ₹ 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall A total amount of ₹ 36,000 crore released so far This is in addition to additional borrowing permission of ₹ 1,06,830....
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.... crore granted to the States The Ministry of Finance has released the weekly instalment of ₹ 6,000 crore to the States to meet the GST compensation shortfall. Out of this, an amount of ₹ 5,516.60 crore has been released to 23 States and an amount of ₹ 483.40 crore has been released to the 3 Union Territories (UT) with Legislative Assembly (Delhi, Jammu & Kashmir & Puducherry) wh....
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....o are members of the GST Council. The remaining 5 States, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation. The Government of India is borrowing this amount on behalf of the States and UTs through a special borrowing window to meet the estimated shortfall of ₹ 1.10 crore in revenue arising on account of GST implementation....
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..... The amount released this week was the 6th instalment of such funds provided to the States. The amount has been borrowed this week at an interest rate of 4.2089 %. So far, an amount of ₹ 36,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.7106%. In addition to providing funds through the special borrowing window ....
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....to meet the shortfall in revenue on account of GST implementation, the Government of India has also granted additional borrowing permission equivalent to 0.5% of States' GSDP to the states choosing option-I to meet GST compensation shortfall to help them in mobilising additional financial resources. So far, permission for borrowing an additional amount of ₹ 1,06,830 crore has been granted to....
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.... 28 States under this provision. The amount of additional borrowing permission granted to 28 States and the amount of funds raised through special window and released to the States and Union Territories so far is annexed. State wise additional borrowing of 0.50 percent of GSDP allowed and amount of funds raised through special window passed on to the States/UTs till 09.12.2020 (Rs. in Crore) S....
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..... No. Name of State / UT Additional borrowing of 0.50 percent allowed to States Amount of fund raised through special window passed on to the States/ UTs 1 Andhra Pradesh 5051 929.97 2 Arunachal Pradesh* 143 0.00 3 Assam 1869 400.24 4 Bihar 3231 1571.14 5 Chhattisgarh 1792 169.26 6 Goa 446 337.93 7 Gujarat 8704 3710.87 8 Haryana 4293 1751.33 9 Himachal Pra....
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....desh 877 690.95 10 Jharkhand 1765 91.95 11 Karnataka 9018 4992.85 12 Kerala 4,522 642.12 13 Madhya Pradesh 4746 1827.79 14 Maharashtra 15394 4820.05 15 Manipur* 151 0.00 16 Meghalaya 194 44.99 17 Mizoram* 132 0.00 18 Nagaland* 157 0.00 19 Odisha 2858 1538.05 20 Punjab 3033 930.88 21 Rajasthan 5462 1157.77 22 Sikkim* 156 0.00 23 Tamil Nadu 9....
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....627 2511.68 24 Telangana 5017 429.45 25 Tripura 297 91.20 26 Uttar Pradesh 9703 2417.25 27 Uttarakhand 1405 932.19 28 West Bengal 6787 493.45 Total (A): 106830 32483.36 1 Delhi Not applicable 2360.08 2 Jammu & Kashmir Not applicable 914.22 3 Puducherry Not applicable 242.34 Total (B): Not applicable 3516.64 Grand Total (A+B) 106830 36000.00 * These States....
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.... have 'NIL' GST compensation gap<BR> News - Press release - PIB....