Centre owes Kerala Rs 4,395 cr. in total as GST compensation
The Centre owes Kerala a sizeable amount by way of Goods and Services Tax (GST) compensation, Finance Minister K. N. Balagopal informed the Assembly on Tuesday.
The State is owed Rs1,473.34 crore as balance amount in the compensation payment for the 2020-21 fiscal and Rs2,921.84 crore for the 2021-22 fiscal (upto August), the Finance Minister said in a written reply to the House.
During 2020-21, the State was entitled to Rs12,144.85 crore as GST compensation, which indicates the amount paid by the Centre to States to make up for shortfall in GST collection. However, the State received only Rs10,671.51 crore that year.
During 2021-22 (up to August), the State was entitled to Rs7,044.11 crore, against which it received Rs4,122.27 crore, show figures tabled in the Assembly.
Ever since the GST roll-out, 2019-20 was the only year that the State received an excess amount by way of GST compensation. That year, the State received Rs11.4 crore in excess under this head.
According to the data, the State received Rs2,102 crore as GST compensation in 2017-18, Rs3,532 crore in 2018-19, Rs8,111 crore in 2019-20, Rs10,671.51 crore in 2020-21 and Rs4,122.27 crore (till August) in 2021-22.
