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Monday
September 2021
11:21 PM IST
News Headlines
Former TT champ Martin to retire after world championships        Gill, Rana are about to shock the world: KKR chief mentor Hussey        Electrical equipment mkt may grow at 12 pc annually to reach USD 72 bn by 2025        Small cars too need adequate number of airbags to ensure safety, says Gadkari        Taliban-run Kabul municipality to female workers: Stay home        Nepal observes Constitution Day; PM Deuba vows to protect, implement statute        Adityanath releases report card; says UP has seen complete transformation under BJP rule        BJP uses Taliban, Afghanistan, Pakistan to garner votes: Mehbooba        Charanjit Singh Channi to be next CM of Punjab        Boxing: Mohammad Hussamuddin sails into QF        Leading garment exporter Kitex Group to invest Rs 2,400 cr in Telangana        Taliban continue restrictive policies on women's education, resume secondary school lessons only for male students        Sidhu is a 'friend of Pakistan', will oppose if he is appointed CM: Amarinder Singh        Schools in Kerala to reopen from Nov 1        Amarinder Singh resigns as Punjab CM, says will not accept Sidhu for top post        Sachin stuns World Championships medallist Gaurav Bidhuri        Sensex, Nifty snap winning streak, end in red        Rahul attacks BJP govt over unemployment issue        International community must think carefully, consult before giving acceptance to new Kabul regime: PM Modi        Kerala to allot 36.84 acres land to TCS, aims to create 10,000 jobs        
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Kerala News
Centre releases Rs 75,000 crore to states as GST compensation
 
New Delhi: The government on Thursday said it has released Rs 75,000 crore to the states and Union Territories to compensate them for the shortfall in GST revenue.

The GST Council in its meeting on May 28 had decided that the central government would borrow Rs 1.59 lakh crore and release it to the states and UTs with the legislature on a back-to-back basis to meet the resource gap due to the short release of compensation on account of inadequate amount in the compensation fund.

'Ministry of Finance has released today Rs 75,000 crore to the States and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation. This release is in addition to normal GST compensation being released every 2 months out of actual cess collection,' the ministry said in a statement.

It further said that all eligible states and UTs (with the legislature) have agreed to the arrangements for the funding of the compensation shortfall under the back-to-back loan facility.

'For effective response and management of COVID-19 pandemic and a step-up in capital expenditure, all States and UTs have a very important role to play. For assisting the States/UTs in their endeavour, Ministry of Finance has front-loaded the release of assistance under the back-to-back loan facility during FY 2021-22 Rs 75,000 crore (almost 50 per cent of the total shortfall for the entire year) released today in a single instalment,' the ministry added. The balance amount will be released in the second half of 2021-22 in steady instalments.


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ENTERTAINMENT NEWS
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INTERNATIONAL NEWS
Taliban-run Kabul municipality to female workers: Stay home
 Kabul, Sep 19 (AP) Female employees in the Kabul city government have been told to stay home, with w
Nepal observes Constitution Day; PM Deuba vows to protect, implement statute
Taliban continue restrictive policies on women's education, resume secondary school lessons only for male students
International community must think carefully, consult before giving acceptance to new Kabul regime: PM Modi
NATIONAL NEWS
Adityanath releases report card; says UP has seen complete transformation under BJP rule
 Lucknow, Sep 19 (PTI) Asserting that Uttar Pradesh has undergone a complete transformation under his
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Sidhu is a 'friend of Pakistan', will oppose if he is appointed CM: Amarinder Singh
Rahul attacks BJP govt over unemployment issue
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