49th GST Council Meeting: Centre To Clear Entire Pending Balance GST Compensation For June 2022
The 49th meeting of the GST Council was held on 18th February 2023 at Vigyan Bhawan, New Delhi under the chairpersonship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.The government of India has decided to clear the entire pending balance GST compensation of Rs. 16982 crores for June 2022.Due to the lack of funds in the GST compensation fund, the center made...
The 49th meeting of the GST Council was held on 18th February 2023 at Vigyan Bhawan, New Delhi under the chairpersonship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.
The government of India has decided to clear the entire pending balance GST compensation of Rs. 16982 crores for June 2022.
Due to the lack of funds in the GST compensation fund, the center made the decision to release this money from its own funds, with the promise that it would be reimbursed through future compensation cess collections.
The Center will also approve the final GST compensation that can be paid to the States that have provided the 16,524 crore rupees in revenue figures that have been verified by the Accountant General of the State.
Press Release 49th Meeting of the GST Council
Date: 18.02.2023
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