Basavaraj Bommai meets Finance Minister Nirmala Sitharaman to request the GST Council to release Rs 11,000 crore overdue Amount
Bengaluru: Basavaraj Bommai, the Home Minister and Karnataka’s representative on the GST Council, met with Union Finance Minister Nirmala Sitharaman on Friday to request the release of delayed compensation from the GST Council.
According to reports, the state is owed Rs 11,000 crore for the fiscal year 2020-21. From the total pending dues in this fiscal, the state has received Rs 1,776 crore so far. Compensation for all states is being worked out, according to Sitharaman. To compensate for losses caused by the Covid-19 epidemic, the Union Government has decided the borrow money and transfer it on to states as GST compensation. During the fiscal year 2020-2021, the Centre borrowed and passed on Rs 12,047 crore to Karnataka to offset GST compensation losses caused by the epidemic.
