New Delhi: The Centre will disburse GST compensation cess amounting to Rs 20,000 crore to the state governments Monday night, Finance Minister Nirmala Sitharaman said.
The decision was taken during the GST Council meet held Monday. Besides, Sitharaman said that IGST dues worth Rs 24,000 crore will also be paid to the state governments by next week.
The Council also decided that firms with up to Rs 5 crore turnover have to file only eight GST returns in a year from January 1.
It also waived 18 per cent GST for start-ups which use ISRO and Antrix Corporation services to launch their satellites.