Bhubaneswar: The state government has received Rs 1,041 crore as Goods and Services Tax (GST) compensation for August and September of this financial year.
The GST was implemented across the country July 1, 2017. As per the GST (Compensation to States) Act, the states which registered below 14 per cent growth would be compensated for the revenue loss, if any. The base year for the calculation of compensation is 2015-16.
Though the state is supposed to receive compensation of Rs 1,194 crore for the two months, the Centre has released Rs 153 crore less, an official said.
The state has estimated that compensation due for the month of October and November is Rs 1,190 crore. As the Centre has released Rs 153 crore less for the previous two months, the state government will now demand Rs 1,343-crore compensation from the Centre, the official said.
The state Finance department will soon write to its Central counterpart for early release of the dues, he added.
The Centre, Monday, released Rs 35,298 crore to states as GST compensation for August and September. Earlier, the Centre was releasing the dues on time. But, this time it was delayed due to revenue shortfall. After collecting revenue during October and November, the Centre paid dues pending for pervious town months, sources said.
As the situation is unlikely to change in view of slowdown, a lot of doubt has been raised on timely payment for next compensation amount.
Since implementation of GST, Odisha has received compensation of Rs 2,348 crore for 2017-18 and Rs 3,785 crore for 2018-19 financial year.